The Federal Ministry of Education has expressed serious concern over a report published in the Newspapers alleging that certain Nigerian universities have been making unauthorised deductions from student loans provided through the Nigerian Education Loan Fund (NELFund).
In a statement by the Director of Press of the ministry, Boriowo Folashade, the Minister of Education, Dr. Maruf Olatunji Alausa, described the allegations as “very disturbing and extremely concerning,” emphasising that any unauthorised deductions from student loans not only breach financial ethics but also undermine the very 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.
In response, the Ministry is convening an urgent meeting on May 6, 2025, with the Vice Chancellors of the affected universities and the Managing Director of NELFund. 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.
“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. They will also offer technical assistance and introduce an Annual University Transparency Index to promote accountability and enhance the global relevance of Nigerian universities,” said the minister.
According to him, a training program will also 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. 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 said.
Dr. Alausa further emphasised that President Bola Ahmed Tinubu, who established NELFund as a flagship initiative, made adequate budgetary provisions to support both students and institutions fairly and transparently.
“NELFund was created to expand students’ access to high-quality education and to support universities financially in a legal and sustainable way. Any attempt to exploit this fund is unacceptable and contradicts the President’s vision for inclusive human capital development,” he said
The Minister reaffirmed the administration’s commitment to protecting public funds and ensuring that students receive the full benefits of all government education support schemes.
