Victoria Mbangwa
Tension is rising across Nigeria’s higher institutions as polytechnic students have issued a five-day ultimatum to the Nigeria Education Loan Fund (NELFUND), demanding full transparency over the disbursement of student loans amid accusations of fraud, missing billions, and systemic abuse of public trust.
The National Association of Polytechnic Students (NAPS) has raised the alarm over what it describes as “glaring irregularities” in the student loan scheme managed by NELFUND. According to the association, the fund must immediately provide a comprehensive breakdown of how loans have been allocated, specifically to polytechnic students, or face mass protests.
This latest demand follows a disturbing revelation by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which reported that only N71 billion of the N100 billion allocated for student loans can be properly accounted for. The remaining N29 billion remains shrouded in mystery, raising suspicions of corruption and mismanagement.
Further deepening the controversy, the National Orientation Agency recently accused some institutions and banks of colluding to siphon funds through illegal deductions from students’ loan payments.
On Monday, frustration boiled over when members of the National Association of Nigerian Students (NANS) blocked the busy Lagos-Ibadan Expressway in protest, calling for accountability and immediate reform of the loan disbursement process.
In a communiqué released on Wednesday, NAPS President Eshiofune Oghayan and Senate President Oyewumi Ayomide warned that students are prepared to escalate their response if NELFUND fails to comply within five days.
“We are giving the NELFUND board a five-day ultimatum to release a detailed breakdown of the disbursement process specific figures showing how polytechnic students have benefited,” the statement read. “These include organising mass protests involving 0.9% of Nigeria’s 28.1 million students, submitting petitions to the DSS and EFCC for a full-scale investigation, and pursuing all democratic means to seek justice.”
The association emphasized that students will pursue every legal and democratic channel to seek justice and expose the alleged financial mismanagement threatening the educational future of millions.
