The National Orientation Agency (NOA) and the Nigerian Education Loan Fund (NELFUND) have uncovered significant irregularities in the disbursement of the Federal Government's student loan scheme. Investigations reveal that certain universities and banks are allegedly colluding to withhold or delay approved loan funds meant for students, raising serious concerns about transparency and accountability in the program
Lanre Issa-Onilu, Director General of the NOA, highlighted that some tertiary institutions, in partnership with specific banks, have intentionally delayed payments to approved student applicants for personal or institutional gain. Additionally, several universities are reportedly not acknowledging the disbursements made by NELFUND to students, further complicating the situation .
In response, NELFUND has issued a stern warning to all tertiary institutions, urging them to uphold transparency and avoid actions that could undermine public trust or deny students their rightful support. The agency emphasized its commitment to ensuring that no eligible Nigerian is denied the opportunity to pursue higher education due to lack of funds .
These revelations come amidst discrepancies in reported disbursement figures. While the Federal Government claimed to have disbursed over N104 billion to student-beneficiaries, NELFUND clarified that only N32.89 billion had been disbursed as of February 3, 2025, highlighting a significant gap and prompting further scrutiny
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**PRESS RELEASE**
— National Orientation Agency, Nigeria (@NOA_Nigeria) April 13, 2025
**Tertiary Institutions Shortchanging Students with Student Loans**
Recent investigations into the disbursement of the Federal Government Student Loan Fund have uncovered several unethical practices by some institutions of higher learning. According to the…
Why are some people always looking to game government programmes or block other Nigerians from accessing them?
— JJ. Omojuwa (@Omojuwa) April 15, 2025
Here is the Director General of the @NOA_Nigeria @LanreIssaOnilu on the gimmicks being played by some privileged elements to steal students’ loans.
It hurts to also… pic.twitter.com/Tm7SWFwc21
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