The latest embarrassing revelation that over 50 universities across Nigeria illegally and fraudulently deducted institutional loans they received on behalf of beneficiaries of Nigeria’s student loan scheme has further cemented the popular belief that corruption pervades every sector of the Nigerian economy.
A few weeks ago, the National Orientation Agency (NOA), relying on discoveries by NELFUND, accused some institutions of illegal deductions. It alerted the general public to these institutions’ “deceptive practices” that collect institutional fees from NELFUND without disbursing the full value of what they received to students.
Although no names were mentioned at the time, EdubaseNG, in an editorial, urged NELFUND to publicly name the institutions involved in such a despicable act. Since then, NELFUND has gone mute.
But in a bold and fearless move, The Guardian newspaper revealed the names of errant institutions that deducted between ₦3,500 and ₦30,000 from each student’s tuition — funds they received from the Nigerian Education Loan Fund (NELFUND).
Instead of probing the indicted institutions, however, the loan agency chose to distance itself from the exposé, stating it was neither “consulted” nor did it “provide any data, comment, or contribution to the publication in question.” This is disgraceful and serves as an indictment of an agency that had earlier promised to hold accountable any institutions found wanting in the disbursement of the education loans, having previously chastised some of them for withholding vital information from loan beneficiaries.
Institutions indicted in The Guardian’s detailed report by Owede Agbajileke include Ladoke Akintola University of Technology (LAUTECH), Ogbomoso; Abubakar Tafawa Balewa University (ATBU), Bauchi; Yaba College of Technology (YabaTech), Lagos; and Modibbo Adama University, Yola, among others.
The newspaper has done a brilliant job of investigative journalism. It is now left to NELFUND, under the leadership of Akintunde Sawyerr, to probe the institutions named in this multi-million-naira scam involving illegal deductions and sharp practices.
These revelations threaten to undermine the good work the NELFUND MD has done since the programme’s inception in 2024. While Sawyerr may have good intentions and a commitment to transparency, this latest discovery reveals that some forces may be actively working to sabotage his efforts.
Similar past government programmes that were noble and life-changing—such as N-Power and the school-feeding programme—started well but were eventually engulfed by corruption and mismanagement, leading to their disbandment.
NELFUND, which is less than a year old, should still have a clean slate to achieve its founding goals. Thousands of Nigerian parents and their children in higher institutions are finding life unbearable due to hyperinflation that has eroded household incomes. The student loan—comprising tuition and upkeep—came at a time it was most needed. It must not be allowed to end in abysmal corruption.
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