The National Association of Nigerian Students (NANS) has called on the Federal Government to immediately relieve heads of tertiary institutions found culpable of mismanaging the ongoing student loan scheme facilitated by the Nigerian Education Loan Fund (NELFUND).
Addressing journalists in Abuja over the weekend, NANS National President, Comrade Olushola Ladoja, expressed deep concern over reports of irregularities in the implementation of the loan scheme, warning that such actions by institutional heads could derail President Bola Tinubu’s vision of expanding inclusive access to higher education.
Ladoja said: “The President’s initiative to provide financial support to students through the loan scheme is a bold step towards making tertiary education accessible to all. However, the unscrupulous actions of some heads of institutions — including unapproved deductions, double billing, and refusal to refund overpayments — threaten to sabotage this noble effort.”
He revealed that NANS had received several complaints from students and student union bodies across the country about alleged malpractice by school administrators in handling funds disbursed by NELFUND.
The student leader also confirmed that NELFUND is set to meet with Students’ Union Government (SUG) presidents from across the country, alongside NANS national executives, on Thursday in Abuja. The meeting will focus on discussing the implementation process of the scheme and addressing mounting concerns, including suspected collusion between some banks and institutions to delay disbursements for personal gain.
Ladoja noted that the student loan scheme has already begun yielding positive results, especially in curbing school dropouts among students from underprivileged backgrounds. He, however, stressed that immediate corrective actions must be taken to safeguard the integrity of the programme.
“We have held meetings with the Minister of Education, Dr. Tunji Alausa, and the Managing Director of NELFUND, Mr. Akintunde Sawyerr, to express our concerns and present evidence. We are committed to ensuring that the scheme works effectively for all Nigerian students,” Ladoja added.
NANS reiterated its support for the student loan programme but vowed to continue demanding transparency and accountability from all stakeholders involved.
Would you like a visual breakdown of how the NELFUND loan scheme works for students?