By Chukwudi Obasi, Abuja
The House of Representatives has initiated a comprehensive probe into the disbursement of over ₦73.1 billion by the Nigerian Education Loan Fund (NELFUND) amid allegations of unethical practices and concerns over transparency in the management of student loans.
Chairman of the House Committee on Student Loans, Scholarships, and Higher Education Financing, Hon. Ifeoluwa Ehindero, who is also the member representing Akoko North East/North West Federal Constituency, said the investigation is a fact-finding mission mandated by a House resolution passed on May 28, 2025.
“This hearing is not a witch-hunt,” Ehindero clarified during the maiden session of the Joint Committee on Student Loans, University Education, Banking Institutions, Anti-Corruption, and Other Ancillary Matters.
“It is a truth-seeking mission designed to ensure transparency, accountability, and fairness in a programme that directly impacts the future of Nigerian youth.”
The first hearing, held at Conference Room 107 of the National Assembly, was aimed at interrogating the operational framework of NELFUND. However, the session was abruptly adjourned due to the absence of key stakeholders and the failure of some agencies to submit vital documents requested by the committee.
Notably absent was the Executive Director of Finance and Administration at NELFUND, whose testimony was considered central to the probe.
“Many of our questions were specifically for him,” Ehindero said. “His absence significantly hindered the proceedings. The Managing Director must ensure his attendance at the next session.”
The committee expressed deep concern over the lack of seriousness displayed by the invited parties and warned that legislative actions may be taken to compel compliance if non-cooperation persists.
“If individuals or institutions fail to honour our invitation again, we will not hesitate to invoke the legislative powers available to compel their appearance,” Ehindero warned.
The lawmaker revealed that between January and June 2025, NELFUND disbursed ₦73.1 billion to more than 366,000 students in federal and state-owned tertiary institutions. Of this amount, ₦38.2 billion was allocated for tuition, while ₦34.8 billion covered upkeep allowances.
Meanwhile, the Speaker of the House, Tajudeen Abbas, said the legislature would not allow the programme to be compromised by administrative inefficiencies, regulatory weaknesses, or deliberate abuse of process.
“The credibility of the programme and the trust of the Nigerian people in public institutions are at stake,” Abbas said. “We cannot fold our arms and allow this to be swept under the carpet.”
He described the ongoing probe as both a constitutional mandate and a moral obligation.
Abbas emphasised that the integrity of the programme must be safeguarded for the sake of young Nigerians whose future hinges on access to higher education.
Citing Sections 88 and 89 of the 1999 Constitution (as amended), he reaffirmed the House’s powers to investigate the activities of any authority tasked with implementing laws passed by the National Assembly.
