House Joint Committee Probes Alleged Mismanagement In NELFUND Disbursement

A joint committee of the House of Representatives has launched an investigative hearing into alleged unethical practices in the disbursement and management of student loans by the Nigerian Education Loan Fund, NELFUND.

Speaking at the investigative hearing in Abuja, Chairman of the Joint Committee on Student Loans, Scholarships, Higher Education Financing, Banking, Anti-Corruption, and University Education, Ifeoluwa Ehindero said the probe was necessary to ensure transparency, accountability, and efficient service delivery under the student loan scheme.

Mr Ehindero said the inquiry aims to address institutional bottlenecks and restore public confidence in the program, which was established following the signing of the Student Loans (Access to Higher Education) Repeal and Re-enactment Act by President Bola Tinubu in April 2024.

According to the committee, NELFUND has so far disbursed more than ₦73 billion in loans to 366,247 students across 206 federal and state tertiary institutions.

Of this amount, ₦38.2 billion was allocated to tuition, while ₦34.8 billion went toward student upkeep.

The chairman commended President Tinubu’s Renewed Hope agenda, stating that the fund represents a transformative effort to make higher education more accessible to Nigerian families.

He also praised the Speaker of the House, Tajudeen Abbas, for his legislative support, describing him as a key figure in the push for accountability in education financing.

The committee emphasized that the hearing is not a witch hunt, but a platform to gather input from stakeholders and improve the loan disbursement process.

“We must ensure the Renewed Hope agenda is not only achieved but revitalizes the Nigerian education sector,” the chairman said.

Oduyemi Odumade, Edited By Grace Namiji