NELFUND Scandal: Education Minister Breaks Silence Amidst Fraud Claims

Following a high-level meeting with Vice Chancellors, National Universities Commission officials, and other key stakeholders, Alausa explained that the concerns stem from delays in the program’s implementation timeline rather than any financial misconduct.....KINDLY READ THE FULL STORY HERE▶

His statement follows an ongoing investigation by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) into irregularities in the loan disbursement process.

“There is absolutely no fraud in NELFUND,” Alausa emphasized. “The ICPC clarified that the reports suggesting otherwise were inaccurate. The challenges we’re facing relate strictly to timing issues.”

The ICPC had initiated a probe after inconsistencies emerged regarding how student loans were being distributed. While ₦100 billion was reportedly earmarked for the scheme, only ₦28.8 billion had reached students, raising concerns about the missing ₦71.2 billion.

In light of the revelations, the National Association of Nigerian Students (NANS) threatened nationwide protests, while the National Orientation Agency flagged alleged collusion between certain institutions and banks to delay payments for personal gain.

Further media investigations alleged that some schools made unauthorized deductions from student loans—ranging from ₦3,500 to ₦30,000—cut from tuition and related fees.

ICPC spokesperson Demola Bakare confirmed that a Special Task Force has been established to conduct a thorough investigation into the situation.