NELFUND is facing widespread criticism and investigation after disbursing student loans and stipends to graduates long after they had completed their studies, raising concerns of systemic inefficiency, mismanagement, and potential corruption.
The Nigeria Education Loan Fund (NELFUND) is under intense scrutiny after it was revealed that several former students received loans and living stipends months after completing their education.
According to Daily Punch, some graduates disclosed that they applied for financial aid during their final year of study but experienced extensive delays. Eventually, the funds were disbursed—long after they had paid their fees through other means and left school.
One graduate recounted, “I applied for assistance in my final semester but had to pay my fees myself when no response came. After graduating, I saw that NELFUND had eventually paid the school. When I contacted them, they advised me to ask the school for a refund. But how can I, as an ex-student, request a refund?”
He also mentioned that despite notifying NELFUND about his graduation, he continues to receive upkeep allowances. “I’ll return the upkeep funds when repayment starts, but I won’t repay the tuition loan—they paid it after I already graduated,” he said.
Another former student from the University of Benin expressed similar frustrations. “Months after I left school, I suddenly received a N20,000 upkeep alert and found out my loan had just been approved. This shows clear inefficiency in the system,” he said.
Concerned parents are also speaking out. Mr. Ibrahim, whose son graduated two months ago, said his son keeps receiving funds. “We don’t know how to stop it,” he said.
These issues have sparked wider concerns about mismanagement. The Independent Corrupt Practices and Other Related Offences Commission (ICPC) disclosed that out of the N100 billion disbursed, only N28.8 billion actually reached students. The remaining N71.2 billion remains unaccounted for.
The National Orientation Agency (NOA) raised further concerns about alleged collusion between
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Sources: allschool and leadership
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