BREAKING: NO FRAUD FOUND IN NELFUND — MINISTER
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By: Motunrayo Aniwura
On Wednesday, Dr. Tunji Alausa, the Minister of Education, announced that no fraud had been found in the student loan program.
At the conclusion of a meeting with vice chancellors, representatives from the Federal Ministry of Education, the Nigerian Education Loan Fund, and the National Universities Commission, Alausa made this announcement.
Alausa further characterized the Independent and Corrupt Practices Commission’s statement and other associated offenses as inaccurate.
“Let me start by saying that there is no fraud in NELFUND. ICPC reported that the information was not correct. There is no fraud in NELFUND; what we have are issues that have to do with the timeline.”
Recently, the Independent Corrupt Practices and Related Offences Commission said it commenced a comprehensive investigation into alleged discrepancies surrounding the disbursement of student loans under the Nigeria Education Loan Fund.
The commission said its preliminary findings revealed that while the Federal Government released N100 billion for the scheme, only N28.8 billion was disbursed to students, leaving N71.2b unaccounted for.
Worried by the development, the National Association of Nigerian Students vowed to protest the alleged discrepancy.
The National Orientation Agency had alleged that certain schools, conniving with some banks, delayed payments to students who qualified for loans so they could make money off the situation.
This came after a media report claimed that certain institutions had taken N3,500 to N30,000 in unauthorized deductions from the loan fund for students’ fees.
Demola Bakare, the spokeswoman for the ICPC, said in a statement last Thursday that the commission’s Special Task Force started looking into the claims right away.
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