Minister of Education, Dr Tunji Alausa, on Tuesday, May 14, convened a closed-door meeting with the Nigerian Education Loan Fund (NELFUND) and 51 Vice-Chancellors and heads of tertiary institutions over allegations of misappropriation in the disbursement of student loans.
The meeting at the Tertiary Education Trust Fund (TETFund) headquarters in Abuja addressed concerns about unauthorised deductions and delays in the student loan scheme.
This follows reports suggesting that some institutions may have diverted funds intended for student financial aid.
Earlier, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) initiated an investigation into alleged discrepancies in the disbursement of student loans, with claims that ₦71.2 billion was unaccounted for.
In response, NELFUND has denied any misappropriation, stating that its loan system is fully automated, with all applications and disbursements digitally tracked and verifiable.
The agency maintains that the figures pertain to previous education financing interventions predating NELFUND’s operations.
Dr Alausa is expected to brief the press following the conclusion of the meeting.
