The National Association of Nigerian Students (NANS) has called on both federal and state governments to remove the heads of any tertiary institutions found mismanaging the Nigerian Education Loan Fund (NELFUND).
This strong statement comes as NELFUND prepares to meet with all Student Union Government (SUG) Presidents and NANS national executives in Abuja this Thursday. The meeting is expected to address major concerns about how the student loan scheme is being handled on campuses.
Allegations of Abuse and Corruption
According to NANS President Comrade Olushola Ladoja, several troubling issues have come to light — including unauthorised fee deductions, double collection of fees, withholding loan disbursement notifications, and collusion with banks to profit off the funds meant for students.
Speaking at a media briefing in Abuja, Ladoja warned that such actions threaten President Bola Tinubu’s commitment to inclusive education through the loan scheme.
“Any Vice Chancellor, Rector, or Provost involved in shady practices with this student loan scheme must go,” Ladoja declared.
“We will not sit back while institutions sabotage an initiative meant to help struggling students.”
He noted that NANS had already met with Education Minister Dr. Tunji Alausa and NELFUND MD Akintunde Sawyerr, both of whom assured students that the complaints would be addressed.
A National Dialogue This Week
Ladoja said Thursday’s meeting in Abuja will give SUG presidents a chance to share their grievances directly, while NANS will help chart a way forward.
“We’ll be there to speak up and find a solution. This issue can’t be ignored anymore.”
NOA and NELFUND Back the Claims
The National Orientation Agency (NOA) and NELFUND have also raised the alarm over the behavior of some institutions.
NELFUND MD Akintunde Sawyerr revealed that many schools failed to inform students when their tuition fees had already been paid directly by the loan fund — and continued to demand payment again, causing confusion and financial pressure.
The NOA’s own investigations confirmed the findings. According to Paul Odenyi, NOA’s Deputy Director of Communications, reports from their officers across the country exposed these irregularities.
Students Paying the Price
Ladoja condemned these practices, describing them as a breach of trust that only worsens the already difficult situation for many students.
“While the government is trying to help, some people are actively working against it,” he said.
“We will not tolerate that.”
With investigations already underway and pressure mounting, all eyes are now on Thursday’s meeting in Abuja — and whether firm action will finally be taken.
