The House of Representatives has called for a thorough investigation into alleged unethical practices in the disbursement of student loans under the Nigerian Education Loan Fund, NELFUND, amid growing concerns over transparency, mismanagement and violations of the Student Loans (Access to Higher Education) Act, 2024.
The motion raised by Honourable Aliyu Abdullahi Mustapha on the floor of the House during plenary in Abuja, drew attention to alarming reports from the National Orientation Agency and the Federal Ministry of Education, which suggest collusion between some tertiary institutions and financial institutions to delay or divert student loans intended to provide equitable and interest-free access to higher education.
Moving the motion, Mustapha noted that “The Student Loans Act, 2024 was enacted to ensure timely and transparent access to interest-free loans for all Nigerian students pursuing higher education.
In response, the House of Representatives, among other things, urged NELFUND to implement advanced IT solutions to improve verification processes and streamline operations, and directed it to report violations of the Act and Guidelines to relevant authorities and impose sanctions where necessary.
