The member representing Akoko North East/North West Federal Constituency and chairman of the House Committee on Student Loans, Scholarships, and Higher Education Financing, Hon. Ifeoluwa Ehindero, has declared a fact-finding mission into the alleged unethical disbursement of student loans by the Nigerian Education Loan Fund (NELFUND).
Speaking to journalists during the maiden session of the Joint Committee on Student Loans, Scholarships & Higher Education Financing, University Education, Banking Institutions, Anti-Corruption and Other Ancillary Matters, Hon. Ehindero stated that the House mandated the probe through a resolution passed on May 28, 2025, following credible reports and rising public concern over the integrity of student loan operations.
“This hearing is not a witch-hunt,” Ehindero emphasized. “It is a truth-seeking mission designed to ensure transparency, accountability, and fairness in the administration of a programme that directly affects the future of our youth and the development of our nation.”
The first hearing, which took place at Conference Room 107, National Assembly Complex, was called to interrogate the operational processes of NELFUND. However, the session was adjourned following the absence of several key stakeholders and the failure of some agencies to submit essential public documents requested by the committee.
Among the no-shows was the Executive Director of Finance and Administration—an individual whose testimony is central to the inquiry, according to Ehindero.
“Many of the committee’s questions were meant for him,” he said. “His absence significantly affected the session. The Managing Director must now ensure that the Executive Director is present at the next hearing.”
Ehindero expressed the committee’s disappointment with the low turnout and stressed that stakeholders must take the investigation seriously.
“If these individuals and institutions fail to honour our invitation again, the committee will have no choice but to consider legislative measures available to compel their attendance,” he warned.
Hon. Ehindero also highlighted that between January and June 2025, NELFUND disbursed over ₦73.1 billion to more than 366,000 Nigerian students across federal and state tertiary institutions—₦38.2 billion allocated to tuition fees and ₦34.8 billion as upkeep allowances.
While commending the Federal Government’s Renewed Hope Agenda and the potential of NELFUND to transform access to tertiary education, Ehindero said allegations of mismanagement, ethical violations, and lack of transparency must be investigated thoroughly.
“We are here to ask probing questions and to hold accountable any individuals or institutions found wanting. We owe this to the thousands of Nigerian students who depend on this fund to pursue their education.”
He urged all parties, including NELFUND, civil society groups, whistleblowers, and government agencies, to cooperate fully and provide accurate, honest submissions.
