By: William Olaleye
The Minister of Education, Tunji Alausa has summoned University Vice Chancellors and the Head of the Nigerian Education Loan Fund (NELFUND) following swirling allegations that student loan funds were being diverted.
Recall that the Independent Corrupt Practices and Other Related Offences Commission (ICPC) had earlier on Thursday revealed that only 28.8 billion naira of the 100 billion disbursed by NELFUND was disbursed to the student recipients while 71.2 billion remains unaccounted for.
Speaking to newsmen in Abuja on Thursday, the spokesman for the ICPC, Demola Bakare, disclosed that other key stakeholders had been summoned.
They included the Director-General of the Budget Office and the Accountant-General of the Federation.
Also invited were senior officials from the Central Bank of Nigeria.
“Letters of investigation and invitations were dispatched to key stakeholders, including the Director-General of the Budget Office, the Accountant General of the Federation, and senior officials from the Central Bank of Nigeria.” Bakare said
Preliminary findings revealed a significant gap in the financial records of the disbursement process.
While the Federal Government reportedly released N100 billion for the scheme, only N28.8 billion was disbursed to students, leaving an unaccounted sum of N71.2 billion.
Responding to the allegations, the Minister of Education, Alausa, immediately scheduled a meeting with Vice Chancellors and the Head of NELFUND for Tuesday, 6th May.
“In a statement on Thursday, Alausa described the allegations as a “gross violation of public trust” that could derail the core mission of the education loan scheme.” Business Day wrote.
He further promised firm sanctions for officials and institutions found culpable.
“If verified, they represent a betrayal of the government’s commitment to equitable education access and will be met with firm sanctions.”
“Let me assure Nigerians that this matter will not be swept under the carpet. Anyone found culpable will face appropriate sanctions.” He said.
Additionally, the Minister announced a nationwide training program for Bursars and ICT Heads of both universities and polytechnics.
It’s sole aim is to aid the development and management of open-portal systems, aimed at enabling real-time monitoring of student loan inflows and outflows.
“We are committed to strengthening transparency, promoting responsible financial conduct, and ensuring that every kobo allocated for student welfare is used appropriately,” Alausa said.
VCs and NELFUND Head are all expected to be in attendance on Tuesday.
