Polytechnic Students Demand Transparency from NELFUND Over Student Loan Disbursement

The National Association of Polytechnic Students has given NELFUND a five-day deadline to explain the disbursement of student loan funds amid allegations of missing billions and calls for transparency, as tensions rise over suspected financial misconduct.

allscho The National Association of Polytechnic Students (NAPS) has issued a five-day ultimatum to the Nigeria Education Loan Fund (NELFUND), demanding a transparent breakdown of how student loan funds were disbursed.

This move comes amid increasing concerns over financial accountability in the student loan scheme. The controversy intensified after the National Orientation Agency (NOA) alleged that some educational institutions, in collusion with certain banks, were involved in questionable deductions from students’ loan funds.

Further complicating matters, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) disclosed that while NELFUND claimed to have disbursed N100 billion in student loans, only N71 billion could be traced during a preliminary investigation.

Public outrage quickly followed, prompting members of the National Association of Nigerian Students (NANS) to stage a protest along the Lagos-Ibadan Expressway in Ogun State earlier this week.

In a statement released on Wednesday, signed by NAPS President Eshiofune Oghayan and Senate President Oyewumi Ayomide, the student body demanded that NELFUND publicly release detailed data showing how much of the funds benefited polytechnic students specifically.

“We are giving NELFUND five days to publish a full breakdown of loan disbursements, particularly how polytechnic students were included,” the statement read.

The students warned that failure to meet this demand would lead to nationwide protests and formal petitions to security and anti-graft agencies such as the DSS and EFCC. They also pledged to use all democratic means available to pursue accountability.

In response to the allegations, NELFUND Managing Director Akintunde Sawyerr denied any wrongdoing. Speaking during a recent interview on Channels TV’s Politics Today, Sawyerr insisted that no funds were missing and reaffirmed the federal government’s commitment to equitable access to education through the loan programme.

“There is no missing money. The funds are being used as intended—to support students who cannot afford education,” he stated, acknowledging operational challenges but dismissing any claims of fraud.

As the five-day deadline ticks down, attention remains fixed on NELFUND’s next move.

Read also: From Security Guard to Graduate: Young Man Who Worked at His School to Fund His Education Earns Bachelor’s Degree

Sources: ALLSCHOOL, LEADERSHIP