By Admin:
The Federal Ministry of Education has described as disturbing, a report published by a national daily alleging some universities made unauthorized deductions from funds disbursed under the Nigerian Education Loan Fund (NELFund) scheme.
In a statement, Minister of Education, Dr. Olatunji Alausa, emphasized that any unauthorized deductions from student loans not only breached financial ethics and undermined the foundation upon which NELFund was established.
He stated that if proven true, such actions would constitute a gross violation of public trust and a betrayal of the government’s commitment to equitable access to education.
To this end, the Ministry is convening an urgent meeting on Tuesday, next week with the Vice Chancellors of the affected universities and the Managing Director of NELFund.
According to the statement, the meeting will aim to thoroughly investigate the matter, ensure full accountability, and reaffirm the Ministry’s zero-tolerance policy toward financial malpractice in the education sector.
Also to reinforce this effort, the Ministry, in collaboration with the Athena Centre, will launch a compliance-tracking initiative and a countdown webpage to monitor institutional transparency.
It states that they will also offer technical assistance and introduce an Annual University Transparency Index to promote accountability and enhance the global relevance of Nigerian universities.
Additionally, a training program will be organized for Bursars and ICT Heads of universities and polytechnics on the development and maintenance of an open-portal initiative.
“As part of our National Education Sector Reform Initiative (NESRI), governance remains the top pillar of our agenda,” Dr. Alausa said. “We are committed to strengthening transparency, promoting responsible financial conduct, and ensuring that every kobo allocated for student welfare is used appropriately. Let me assure Nigerians that this matter will not be swept under the carpet. Anyone found culpable will face appropriate sanctions.”
Dr. Alausa further emphasized that President Bola Tinubu, who established NELFund as a flagship initiative, made adequate budgetary provisions to support both students and institutions in a fair and transparent manner. “
The Minister reaffirmed the administration’s commitment to protect public funds and ensure that students receive the full benefits of all government education support schemes.
