The Federal Ministry of Education has pledged to probe the alleged deductions from student’s loan by universities.
This is contained in a statement made available to newsmen in Abuja on Thursday by the Director, Press in the Ministry, Mrs Folasade Boriowo.
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Boriowo quoted the Minister of Education, Dr Tunji Alausa to have described the allegations as “very disturbing and extremely concerning”.
Recall that a publication by the Guardian Newspaper on Tuesday, April 29, 2025, allegedcsome Nigerian universities to have made unauthorised deductions from funds disbursed under the Nigerian Education Loan Fund (NELFund) scheme.
Alausa emphasised that any unauthorised deductions from student loans not only breach financial ethics but also undermine the very foundation upon which NELFund was established.
He stated that if proven true, such actions would constitute a gross violation of public trust and a betrayal of the government’s commitment to equitable access to education.
“In response, the Ministry is convening an urgent meeting on May 6, 2025, with the Vice Chancellors of the affected universities and the Managing Director of NELFund.
“The meeting will aim to thoroughly investigate the matter, ensure full accountability, and reaffirm the Ministry’s zero-tolerance policy toward financial malpractice in the education sector.
“To reinforce this effort, the Ministry, in collaboration with the Athena Centre, will launch a compliance-tracking initiative and a countdown webpage to monitor institutional transparency.
“They will also offer technical assistance and introduce an Annual University Transparency Index to promote accountability and enhance the global relevance of Nigerian universities,” he said.
Additionally, Alausa said a training programme would be organised for Bursars and ICT Heads of universities and polytechnics on the development and maintenance of an open-portal initiative.
“As part of our National Education Sector Reform Initiative (NESRI), governance remains the top pillar of our agenda.
“We are committed to strengthening transparency, promoting responsible financial conduct, and ensuring that every kobo allocated for student welfare is used appropriately.
” Let me assure Nigerians that this matter will not be swept under the carpet. Anyone found culpable will face appropriate sanctions.”
Alausa further emphasised that President Bola Tinubu, who established NELFund as a flagship initiative, made adequate budgetary provisions to support both students and institutions in a fair and transparent manner.
“NELFund was created to expand students’ access to high quality education and to support universities financially in a legal and sustainable way.
“Any attempt to exploit this fund is unacceptable and contradicts the President’s vision for inclusive human capital development.”
