The much-anticipated meeting between the Minister of Education, Dr Tunji Alausa, and the Nigerian Education Loan Fund (NELFUND) alongside 51 Vice-Chancellors and heads of tertiary institutions accused of mismanaging student loan disbursements has been postponed.
Although no official reason was given for the postponement, Dr Alausa was seen on Tuesday attending the 2025 International Conference on Smart Education and Digital Literacy in Abuja.
A source familiar with the matter said the meeting would be rescheduled soon.
“The postponement was likely due to scheduling conflicts, and the meeting will be rescheduled once the Minister’s engagements are cleared, with stakeholders expecting a productive discussion on addressing the alleged misappropriation issues,” the source said.
The postponed meeting was initially scheduled for Tuesday, May 6, to address growing concerns over alleged financial misconduct by some institutions.
There have been reports of unauthorised deductions from student loan disbursements, double collection of fees by institutions, and some schools refusing to refund students who had already received NELFUND loans.
Last week, the Ministry of Education’s spokesperson, Folasade Boriowo, confirmed the planned meeting, saying it was to probe disturbing reports that some schools may have diverted funds meant for student aid.
The loan scheme has faced severe scrutiny after reports emerged that some institutions and banks were allegedly colluding to make illegal deductions from the loans.
Also, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has investigated the alleged fraud. According to early findings, while NELFUND disbursed N100 billion in loans, only N28.8 billion reached the intended student beneficiaries — leaving N71.2 billion unaccounted for.
It was reported that some schools made unauthorised deductions ranging from N3,500 to N30,000 from tuition fees paid via the loan platform. Most of the accused institutions have denied the allegations.
The situation sparked outrage among students. On Monday, members of the National Association of Nigerian Students (NANS) staged a protest and blocked the Lagos-Ibadan Expressway.
Speaking to Journalists, Initiator of the Creative Change Centre, Omole Ibukun, condemned the postponement and called for urgent action.
According to him, the allegations are serious and must be addressed swiftly to restore trust in the system.
“This only confirms the earlier suspicion that the NELFUND loan was created to settle political loyalists and appointees in the pipeline of the Ministry, the Universities, and the Fund itself. Because any serious government would be organising a public probe of those alleged now, the meeting they conceded to have on the matter was postponed without reason.
“It only shows that the Tinubu government and its representatives are culpable in the corruption,” he said.
