Kayode Olanrewaju The Senior Special Assistant (SSA) to the President on Student Engagement, Sunday Asefon, has condemned illegal deduction of NELFUND Student Loans by the authorities of some tertiary institutions and their refusal to announce disbursement, saying there are sanctions underway for such unsavory conduct.
He lamented that investigations have revealed that no fewer than 51 higher institutions are currently implicated in this scandal, stressing that these institutions have been found to deduct between N20,000 and N40,000 from students’ loan disbursements, an action that is not only fraudulent and criminal, but also directly undermines the integrity and purpose of the student loan scheme.
He said in a statement made available to New Telegraph: “The attention of my office has been drawn to alarming reports of unauthorised deductions from the Nigerian Education Loan Fund (NELFUND) student loans by management of various tertiary institutions across the country.”
According to him, these illegal deductions, coupled with the refusal by some institutions to publicly announce the disbursement of funds to eligible students, represent a grave threat to the credibility of the NELFUND programme.
“And, more critically, they cast a shadow and aspersion on the goodwill and commitment of President Bola Tinubu, whose administration established the scheme to ensure inclusive access to education and relief for Nigerian parents and students,” Asefon stated.
This was even as he noted that the intent of the loan is to support students, and not to become an avenue for exploitation by school authorities.
Therefore, he said: “In light of these developments, the office of the Senior Special Assistant to the President on Student Engagement in collaboration with the Minister of Education shall constitute an action committee for monitoring and sanction very soon.
He pointed out that members of the Monitoring Committee, which terms of reference, is majorly to oversee compliance by all tertiary institutions, would include representatives from the Federal Ministry of Education; officials from NELFUND; recognised student bodies; and representatives from the office of the Senior Special Assistant (SSA) to the President on Student Engagement.
According to him, under the collaboration, the ministry and his office, would commission anti-graft agencies such as the EFCC and ICPC, in partnership with the Ministry of Education to investigate all reported cases of unauthorised deductions; identify culpable institutions and officials; and ensure appropriate sanctions are applied to deter further abuse.
This statement serves as a clear warning as no institution or individual will be allowed to frustrate and truncate a federal initiative designed to uplift the future of Nigerian youth,” Asefon added.
