NELFUND:CACOL Condemns Alleged Illegal Deductions From Students’ Loans By 51 Universities
The Centre for Anti-Corruption and Open Leadership (CACOL) strongly condemns the recent reports of illegal deductions from student loans by 51 universities across Nigeria.
CACOL in a statement signed by the organization’s Director of Administration and Programmes, Tola Oresanwo on behalf of its Chairman, Mr. Debo Adeniran he noted that “It was recently reported by a section of the media that no fewer than 51 institutions have been fingered in illegal deductions and attendant exploitation of the Nigerian Education Loan Fund (NELFUND) scheme. It was also reported that the errant institutions make between N3,500 and N30,000 off each student’s institutional fee that was submitted and received from NELFUND.”
CACOL is particularly piqued by this alarming practice, if confirmed, represents a gross violation of students’ rights and a blatant abuse of the federal government’s student loan scheme designed to support underprivileged scholars.
It says “From the report, multiple institutions have allegedly been deducting arbitrary and unexplained fees from loans disbursed to students, leaving many struggling to cover essential academic expenses. These actions undermine the purpose of the loan program, which was established to alleviate financial barriers to education and promote equitable access to higher learning.
“We are deeply disturbed by these reports and call for an immediate probe into the matter. The student loan scheme was created to empower young Nigerians, not to be exploited by institutions for unjust enrichment. This is a betrayal of trust and a disservice to the future of our nation.”
The statement further read; “We demand: 1. A Full Investigation: The Federal Ministry of Education, the Economic and Financial Crimes Commission (EFCC), and the Independent Corrupt Practices Commission (ICPC) must urgently investigate these allegations and hold accountable any institution found culpable.
2. Transparency & Accountability: Universities involved must publicly clarify the nature of these deductions and refund affected students without delay.
3. Policy Safeguards: The government must implement stricter oversight mechanisms to prevent further exploitation of student loan beneficiaries by Universities and their officials. Education is a fundamental right, and no student should be subjected to financial exploitation while pursuing their academic dreams. We stand in solidarity with affected students and urge swift action to rectify this injustice. ”
