“The Federal Ministry of Education has received with deep concern a report published by The Guardian Newspaper on Tuesday, April 29, 2025, alleging some Nigerian universities to have made unauthorized deductions from funds disbursed under the Nigerian Education Loan Fund (NELFund) scheme.
The Federal Ministry of Education has launched an investigation into reports of unauthorized deductions from Nigerian Education Loan Fund (NELFund) accounts by universities. Education Minister Dr. Marut Olatunji Alausa described the allegations as “very disturbing and extremely concerning,” warning that such actions violate financial ethics and undermine the loan scheme’s purpose. An emergency meeting with affected vice-chancellors and NELFund officials has been scheduled for May 6 to address the claims and ensure accountability.
As part of reforms, the ministry will introduce a compliance-tracking initiative, an Annual University Transparency Index, and training for bursars on financial transparency. “Anyone found culpable will face appropriate sanctions,” Alausa vowed, reaffirming President Tinubu’s commitment to equitable education access. The probe comes alongside an ongoing ICPC investigation into NELFund’s operations.
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