The Federal Ministry of Education has agreed to look into suspected deductions and diversion of cash from students’ loans through the Nigeria Education Loan Fund (NELFUND).
According to a statement released on Thursday by the ministry’s Director of Press and Public Relations, an urgent meeting with the Vice Chancellors of the relevant universities and the Managing Director of NELFund has been arranged for May 6, 2025, to discuss the allegations.
It further stated that the Minister of Education, Dr. Marut Olatunji Alausa, termed the charges as “very disturbing and extremely concerning.”
The Ministry promised that anyone found guilty will face appropriate consequences.
The statement reads: “The Federal Ministry of Education has received with deep concern a report published by The Guardian Newspaper on Tuesday, April 29, 2025, alleging that some Nigerian universities made unauthorized deductions from funds disbursed through the Nigerian Education Loan Fund (NELFund) scheme.
“The Honourable Minister of Education, Dr. Marut Olatunji Alausa, described the allegations as “very disturbing and extremely concerning,” emphasizing that any unauthorized deductions from student loans not only violate financial ethics but also undermine the very foundation on which the NELFund was founded.
He warned that if found accurate, such activities would be a grave breach of public confidence and a betrayal of the government’s commitment to equal access to education.
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“Governance is a primary priority for our National Education Sector Reform Initiative (NESRI).
“We are committed to increasing openness, encouraging responsible financial behavior, and ensuring that every kobo given for student welfare is used wisely. Let me assure Nigerians that this situation will not be ignored. “Anyone found guilty will face appropriate sanctions.”
According to reports, the statement underlined President Bola Tinubu’s commitment to maintaining the fund’s integrity and ensuring that all Nigerians have access to high-quality education.
Dr. Alausa emphasized that President Bola Ahmed Tinubu, who established NELFund as a flagship initiative, made adequate budgetary provisions to support both students and institutions in a fair and transparent manner. “NELFund was created to expand students’ access to high-quality education and to financially support universities in a legal and sustainable way. Any attempt to use this resource is wrong and goes against the President’s aim for inclusive human capital development.”
“The Honourable Minister emphasized the administration’s commitment to safeguarding public finances and ensuring that students benefit fully from all government education support schemes.
