Must Read
As someone who has been following student issues closely and sharing updates on my blog, I was honestly shocked and deeply saddened when I came across this news. How can something meant to help Nigerian students turn into a national disgrace?
According to recent reports, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has launched a major investigation into the Nigeria Education Loan Fund (NELFUND). And the findings so far are disturbing.
Here’s what we know:
The Federal Government reportedly released N100 billion to support Nigerian students in various tertiary institutions.
This was supposed to be a lifeline for thousands of young people struggling to pay school fees, buy textbooks, or even eat decently while in school. But according to the ICPC, only N28.8 billion was actually disbursed to students.
Yes, you read that right—only N28.8 billion. That means N71.2 billion is unaccounted for!
As a student myself, I can’t help but feel frustrated. We wake up every day, hoping the government will do better, but this kind of news just weakens your faith in the system.
And to make matters worse, over 51 tertiary institutions have been accused of illegal deductions. They allegedly deducted amounts ranging from N3,500 to N30,000 from each student’s loan funds.
So where did all that money go?
To get to the bottom of it, the ICPC invited several key figures for questioning, including:
- The Director-General of the Budget Office
- The Accountant-General of the Federation
- Senior officials from the Central Bank of Nigeria
- The CEO and Executive Director of NELFUND
They were all asked to provide documents and give detailed explanations about the disbursement process. The ICPC also revealed that their Special Task Force started working immediately after receiving a report from the media.
Their preliminary findings suggest that some institutions may have taken advantage of the NELFUND process to enrich themselves. This is not just disappointing - it’s heartbreaking. We’re talking about money meant to help students get an education, not to fill the pockets of corrupt school officials or government insiders.
Why this matters to us:
I know what it’s like to struggle to pay fees. I’ve seen my course mates drop out, not because they weren’t smart or serious, but because they couldn’t afford tuition. Imagine how many students could have benefitted from that missing N71.2 billion. Imagine how many dreams could have been saved.
Education should be a priority. Instead, it's being sabotaged by greed.
We need to demand answers. We need to hold the institutions involved accountable. And most importantly, we must continue to speak up and stay informed.
This is not just news. This is our future.
I’ll keep following this story and sharing updates as I get them. If you’re a student, a parent, or just someone who cares about Nigeria, please stay alert. Let’s not keep quiet.
#StudentLoans #NELFUND #ICPC #Corruption #NigeriaEducation #PrudentJoshua #PRUDENTj2
