Human rights lawyer Deji Adeyanju has urged the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to arrest and prosecute individuals involved in the alleged diversion of N71.2 billion from the Nigeria Education Loan Fund (NELFUND).
In a statement released on Thursday, Adeyanju described the alleged mismanagement of the student loan scheme as a betrayal of public trust, particularly affecting Nigerian students relying on the fund for education. The ICPC has initiated an investigation into the matter following reports that only N28.8 billion of the N100 billion allocated for student loans was disbursed, leaving N71.2 billion unaccounted for.
Adeyanju stated the need for accountability, stating that all individuals and institutions found culpable must face the full weight of the law to restore credibility to the student loan scheme.
The National Orientation Agency (NOA) had earlier uncovered unethical practices in the disbursement of the loan fund, including unauthorised deductions by some institutions. The ICPC’s investigation aims to identify and prosecute those responsible for the alleged fraud, ensuring justice and deterring future acts of corruption in the education sector.
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