The Nigerian Education Loan Fund (NELFUND) has warned that institutions withholding information about student loan disbursements are committing a crime.
This is even as it disclosed that plans for a thorough investigation into alleged abuse of the scheme by some beneficiary higher institutions have been concluded with separate investigative panels, including the National Orientation Agency, the Fund, and the Federal Ministry of Education.
Managing Director of the Fund, Akintunde Sawyerr, stated this on Wednesday in Abuja on the sidelines of a stakeholders’ engagement workshop on system automation and loan application processes.
The development comes amid growing concerns over alleged unauthorised deductions from student loan disbursements, double institutional fees collection by tertiary institutions, refusal of beneficiary higher institutions to refund students who had already received NELFUND students loan.
The scheme had come under intense scrutiny after the National Orientation Agency alleged that some institutions and banks are colluding to delay students loan disbursements with a view to making profits from it.
No fewer than 51 institutions made unauthorised deductions ranging from N3,500 to N30,000 from tuition fees paid through the loan scheme.
Speaking on the challenges involved in accessing the loan by the students, Sawyerr expressed concern about institutions causing unnecessary delays in students’ access to the loan.
He noted that management of higher institutions must realise that they must be proactive in disbursing money to the beneficiaries once they are paid by NELFUND.
His words: “The issues at hand really lie with the management. The issue is to ensure that the management appreciates and understand if you receive money on Monday, the student must receive value on Tuesday.
“Students should not wait one week, month or one year before they are told that they can attend classes. And students must not be charged a naira extra because the commitment of NELFUND is to pay all the institutional charges.
“No school, institution should come and say NELFUND paid this but this is not part of NELFUND because of instruction to the institutions is that these students, once we have paid all institutional charges must access education, classes, tutorials, seminars, examinations, field trips.
“They must have access to education; we pay whole amount. We don’t want students to put their hands in their pockets and bring one extra naira.
“We don’t want the students to have to pay because the institutions told them we have not paid when we have.”
The agency boss said it has disbursed funds to 303 institutions on behalf of 293,000 students.
While appreciating public outcry on the matter, the Managing Director stated: “We are already conducting our own investigation. The NOA is conducting its own investigation, and the Ministry of Education, through the Honourable Minister, is conducting a holistic investigation.”
He revealed that while the fund would impose administrative sanctions on erring institutions, cases involving serious criminal offences would be escalated to anti-graft agencies. – Guardian.