The National Association of Polytechnic Students (NAPS) has issued a five-day ultimatum to the NELFUND board to provide a detailed breakdown of fund disbursement
The Nigeria Education Loan Fund (NELFUND) has disbursed N54 billion to 293,000 students across 303 institutions, Managing Director Akintunde Sawyerr revealed yesterday. While N30 billion covered tuition fees, N24 billion was paid as stipends. The disclosure followed a House of Representatives probe and a five-day ultimatum from the National Association of Polytechnic Students (NAPS) demanding a detailed disbursement breakdown.
NAPS threatened nationwide protests if NELFUND fails to provide transparency, citing suspicions of inequitable allocations to polytechnics. Sawyerr dismissed recent ICPC fraud claims as “damaging,” though the anti-graft agency recanted its initial report of a N29 billion discrepancy. “Hoarding loan information from beneficiaries is a crime,” he warned during the parliamentary hearing.
The scheme received N203 billion from federal coffers, including N71 billion from TETFund and EFCC-recovered loot. The House Committee continues investigating alleged fraudulent deductions by institutions and banks, as scrutiny grows over the loan’s management.
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