The House of Representatives Committee on Student Loans has reaffirmed its commitment to ensuring transparency, accountability, and fairness in the administration of the federal student loan scheme.
Chairman of the committee, Hon. Ifeoluwa Ehindero, said this on Tuesday, during the North central zonal investigative hearing on the alleged unethical practices in the disbursement and management of student loans by the Nigerian Education Loan Fund (NELFUND) at the Yakubu Gowon University, Abuja.
The House had mandated the joint committee, comprising the committees on Scholarships and Higher Education Financing; Banking and other Ancillary Matters; Anti-Corruption and University Education, to probe the alleged diversion, non-disclosure and mismanagement of student loan disbursements as well as non-compliance with the Student Loans Act, 2024.
“I must commend NELFUND and Nigerian students for embracing this transformative journey of Mr. President’s Renew Hope Agenda in the Education sector. Let it be known that this hearing is not a witch-hunt. It is a fact-finding and truth-seeking mission. We are here to listen, to ask probing questions, and to hold accountable any individual institutions found wanting. Our commitment is to the Nigerian people, particularly the teeming youth who look up to government programmes like NELFUND for opportunity, support, and hope,” he said.
During the period under review, NELFUND has disbursed N73,113,908.54 in loans as of Monday, June 30, 2025, with a total of N366,247 student beneficiaries across federal and state tertiary institutions. N38,262,648.54 was allocated to tuition fees, and N34,851,260,000 was allocated for upkeep allowance to over 206 beneficiary institutions.
