From Ndubuisi Orji, Abuja
The House of Representatives has commenced a probe into allegations of diversion of guns and non-compliance with extant laws in the disbursement of the student loan.
The Speaker, Abbas Tajudeen, while declaring the hearing open an investigative hearing organized by the House joint committee on Student loans, Tertiary Education and Services, and Banking and Currency, on alleged infractions in the Students Loan Scheme, said the parliament would not allow administrative lapses derail the Students Loan Scheme.
The Speaker stated that the establishment of the Nigerian Education Loan Fund (NELFUND) following the enactment of th Student Loans (Access to Higher Education) Act, 2024 was a bold step by the Federal Government to ensure equitable access to higher education in the country.
According to him, “it is one of the most precious legacies of the Renewed Hope Agenda of President Ahmed Bola Tinubu’s administration with over 600,000 applications and more than N73 billion disbursed to students across the country, it represents a landmark policy.
‘However, the emergence of troubling reports about alleged diversions, non-compliance, and unethical practices in the disbursement process threatens to derail this important national intervention.
“This House cannot afford to allow the student loan initiative to be undermined by administrative inefficiencies, regulatory gaps, or deliberate abuse of process. We are particularly concerned by reports suggesting that certain institutions and stakeholders may have colluded to delay or conceal disbursements.
“The credibility of the programme, and the trust of the Nigerian people in public institutions, are both at stake and we cannot fold our hands and allow this to be swept under the carpet.”
Consequently, Abbas stated that the public hearing is designed to ascertain the veracity it the alleged infractions, and identify structural weaknesses ” within relevant agencies, regulators, participating institutions and individual actors,” and recommend appropriate sanctions where necessary.
The chairman of the joint committee, Ifeoluwa Ehindero, said the student loan initiative has rekindled hope for thousands of Nigerian families, with tangible results already being recorded.
According to him, as at June 30, 2025, ₦73.1 billion had been disbursed to 366,247 student beneficiaries across federal and state tertiary institutions. He explained that of this amount, ₦38.26 billion was allocated for tuition fees and ₦34.85 billion for upkeep allowances, covering over 206 institutions.
“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,” Ehindero stated.
