The House of Representatives has opened a formal investigation into suspected irregularities in the disbursement of Nigeria’s student loan programme.
At the centre of the probe are allegations of fund diversion, delayed payments, and poor accountability in a scheme meant to ease financial barriers for tertiary students.
The House Committee on Student Loans began its inquiry on Thursday, with Speaker Tajudeen Abbas affirming that lawmakers are committed to protecting public trust and ensuring transparency in the handling of student support funds.
Over ₦73 billion has so far been disbursed to more than 360,000 students under the Nigerian Education Loan Fund (NELFUND), established through the Student Loans Act of 2024. However, concerns have emerged over procedural flaws and a lack of oversight.
The Committee Chair, Ifeoluwa Ehindero, noted that while the loan programme has brought relief to many households, ongoing scrutiny is necessary to ensure it remains fair and efficient.
The Fund’s Managing Director, Akintunde Sawyer, confirmed that over 650,000 applications have been received, with thousands processed daily. He also clarified that payments are made directly to institutions after verification.
The investigation is expected to continue with testimonies from relevant agencies, education regulators, and student representatives.
