By Mercy Aikoye
The House of Representatives has launched an investigation into alleged fund diversions and irregularities in the student loan scheme. Speaker Tajudeen Abbas warned that such issues could undermine the country’s significant education intervention.
“The credibility of the programme and the trust of the Nigerian people in public institutions are at stake,” Abbas said. The probe seeks to investigate reports of delayed disbursements, lack of transparency, and possible collusion.
Abbas emphasized that the investigation is a constitutional obligation and moral responsibility to protect young Nigerians whose educational future depends on the scheme’s integrity. “We cannot fold our arms and allow this to be swept under the carpet.”
The Nigerian Education Loan Fund (NELFUND) has processed over 600,000 applications and disbursed ₦73 billion to students. Chairman Ifeoluwa Ehindero noted that the initiative has rekindled hope for thousands of Nigerian families.
Ehindero said, “We are not out to witch-hunt anyone. Our objective is to ensure prudent accountability, improve the disbursement process, and add value to all stakeholders.”
Managing Director Akintunde Sawyer reported that NELFUND has received over 650,000 registrations and processes 2,000 applications daily. Funds for successful applicants are paid directly to their institutions.
The House Committees will hold further sessions to hear from key institutions and affected students, working towards restoring public confidence in the programme.
