A brewing storm around Nigeria's Education Loan Fund has led the National Association of Polytechnic Students (NAPS) to issue a five-day ultimatum to the board of the Nigeria Education Loan Fund (NELFUND). The students are calling for a detailed breakdown of how student loans have been distributed, especially in light of serious allegations of mismanagement and corruption.
The controversy kicked off when the National Orientation Agency (NOA) claimed that some institutions and banks have been making fraudulent deductions from student loans. A preliminary investigation by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) found that while NELFUND reportedly disbursed N100 billion in loans, only N71 billion could be properly accounted for.
This revelation has ignited public outrage, prompting the National Association of Nigerian Students (NANS) to stage protests along the Lagos-Ibadan Expressway in Ogun State. NAPS has joined the movement, insisting on transparency and accountability from NELFUND.
In a statement co-signed by NAPS President Eshiofune Oghayan and Senate President Oyewumi Ayomide, the association made it clear that if their demands are not met within five days, they will escalate their actions to nationwide protests. These could include mass demonstrations, formal petitions to the Department of State Services (DSS) and the Economic and Financial Crimes Commission (EFCC), and pursuing justice through legal and democratic means.
On the other hand, NELFUND's Managing Director, Akintunde Sawyerr, has denied any allegations of missing funds. In an interview on Channels TV's 'Politics Today,' Sawyerr asserted that no money has been stolen and that all funds are accounted for and used as intended.
As this controversy continues to unfold, students and the public are calling for clarity and accountability regarding the loan scheme. NAPS remains steadfast in its stance, highlighting the need for transparency to rebuild trust in the initiative.
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