The National Association of Polytechnic Students (NAPS) has issued a five-day ultimatum to the Nigeria Education Loan Fund (NELFUND) Board to release a detailed account of how students loan funds were distributed.
This is coming on the heels of mounting concerns over transparency in the student loan scheme disbursement.
Recall that the National Orientation Agency (NOA) recently alleged that some institutions, in collaboration with certain banks, were making fraudulent deductions from student loan payments.
In the same vein, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) revealed in a recent preliminary investigation that although NELFUND reportedly disbursed N100 billion as student loans, only N71 billion could be accounted for.
The developments sparked public outrage, leading members of the National Association of Nigerian Students (NANS) to stage a protest on the Lagos-Ibadan Expressway in Ogun State on Monday.
Arising from its meeting on Wednesday, NAPS in a communique signed by its President, Eshiofune Oghayan, and Senate President, Oyewumi Ayomide, insisted on transparency.
The association insisted that NELFUND must publish specific figures showing how polytechnic students benefited from the loan.
It stated, “We issue a five-day ultimatum to the NELFUND Board. To publicly provide detailed breakdown of how funds were disbursed. With specific figures showing how polytechnic students benefited.”
The statement further warned that failure to comply with the demand would result in nationwide protests and additional actions.
“Organize a mass protest with 0.9% of Nigeria’s 28.1 million students. File petitions with the DSS and EFCC for a full-scale investigation. And Pursue democratic means, using all democratic means to seek justice,” the statement partly reads.
ISUIKWUATO VOICE NEWSPAPER recalls that NELFUND’s Managing Director, Akintunde Sawyerr, had dismissed the claims of missing funds.
He stated this on Sunday during an interview on Channels TV’s ‘Politics Today’. This is as the Fund MD, defended the integrity of the loan scheme.
“We are all looking for this so-called money. First of all, let me be very clear. No money has been stolen.
“The President, in his wisdom and well-intentioned programme, decided that he was going to set up the Nigeria Education Loan Fund.
“So the funds that we’ve been given is to bridge the gap for those who don’t have the money to be able to attain the education.
“No money is missing. No money has been stolen. There had been some issues with what happened at the phase of this. Where human intervention comes in,” Sawyerr said.