Over 50 Nigerian Universities Risk EFCC Probe On Alleged Illegal Deductions From Students Loans
According to media reports, the implicated institutions allegedly made illegal deductions ranging from N3,500 to N30,000 per student from funds disbursed under the federal student loan programme.
The Centre for Anti-Corruption and Open Leadership (CACOL) has call for immediate investigation into reports of illegal deductions made by 51 universities from student loans disbursed through the Nigerian Education Loan Fund (NELFUND) scheme.
In a statement signed by Tola Oresanwo, CACOL’s Director of Administration and Programmes, on behalf of the organisation’s Chairman, Mr. Debo Adeniran, the group on Wednesday urged the Federal Ministry of Education, the Economic and Financial Crimes Commission (EFCC), and the Independent Corrupt Practices Commission (ICPC) to act swiftly in addressing what it described as a disturbing exploitation of vulnerable students.
According to media reports, the implicated institutions allegedly made illegal deductions ranging from N3,500 to N30,000 per student from funds disbursed under the federal student loan programme. These deductions, if proven, are said to have left many students financially stranded, struggling to pay for basic academic needs.
“This alarming practice, if confirmed, represents a gross violation of students’ rights and a blatant abuse of a scheme meant to support underprivileged scholars.
“The student loan initiative, established by the federal government, is designed to remove financial barriers to education and promote equitable access to higher learning,” said Oresanwo.
However, CACOL warns that corrupt practices by university administrators could defeat the purpose of the program.
“We are deeply disturbed by these reports and call for an immediate probe into the matter,” Oresanwo emphasised.
“The student loan scheme was created to empower young Nigerians, not to be exploited by institutions for unjust enrichment.
