Speaker Pledges Commitment In Uncovering Alledged Irregularities In NELFUND Disbursement

The Speaker of the House of Representatives, Dr. Abbas Tajudeen, has pledged the House’s commitment to uncovering alleged irregularities in the administration and disbursement of Nigeria’s student loan scheme, NELFUND.

At an investigative hearing organized by the joint House Committees on Student Loans, Tertiary Education, and Banking and Currency, Dr. Abbas explained that lawmakers must ensure that the integrity of the student loan scheme is protected, warning that the programme could be derailed by “regulatory lapses and deliberate abuse.”

Dr, Abbas said lawmakers have a constitutional and moral obligation to ensure transparency in the student loan program, which was launched under the Access to Higher Education Act of 2024.

“The credibility of the program and the trust of the Nigerian people in public institutions are at stake,” Abbas said, warning against “administrative inefficiencies, regulatory gaps, or deliberate abuse.”

The education loan fund, also known as NELFUND, has received over 600,000 applications, with over ₦73 billion disbursed to students nationwide.

However, recent reports have pointed to alleged diversions and unethical practices within the system.

“This hearing is grounded in law and guided by our duty to protect young Nigerians and their future,” the Speaker said.

He added that the House would not tolerate misconduct by any institution or individual and vowed that sanctions would be recommended for those found guilty of violating the programme’s rules.

The probe is being led by the Joint Committee on Student Loans, Tertiary Education and Banking, which aims to restore public confidence in the scheme and ensure equitable access to education funding.

“The role of the House is not to witch-hunt but to ensure public funds are used transparently and in line with the law,” Abbas said.

The Speaker urged stakeholders and government agencies to cooperate fully, as the House hopes to produce actionable recommendations to strengthen the scheme and restore public trust.

Oduyemi Odumade, Edited By Grace Namiji