NANS Demands EFCC Probe Into Alleged NELFUND Fraud at Ogun Polytechnic

The National Association of Nigerian Students (NANS) has called on the Economic and Financial Crimes Commission (EFCC) to investigate alleged discrepancies in the disbursement of student loans under the Nigerian Education Loan Fund (NELFUND) scheme at D.S. Adegbenro ICT Polytechnic, Itori, Ogun State.

The student body said it was disturbed by reports suggesting that a student received a NELFUND disbursement of ₦355,000, while the institution’s invoice and financial records reflected a significantly lower amount of ₦236,000.

In a statement by the NANS President, Comrade Akinteye Babatunde Afeez, on Monday, June 22, he described the alleged discrepancy as a serious issue that raises concerns about accountability and transparency in the management of funds intended to support students.

“My attention has been drawn to disturbing documents and reports clearly showing that while a sum of ₦355,000 was reportedly disbursed by NELFUND to a student, the institution’s invoice and financial records reflect a significantly lower amount of ₦236,000 on the student’s invoice, as against the amount available on the NELFUND portal,” he said.

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According to him, the development has triggered questions over the handling of student loan funds by the management of the institution.

“This glaring discrepancy raises serious questions regarding accountability, transparency, and the management of funds intended to support Nigerian students by the management of D.S. Adegbenro ICT Polytechnic,” the statement added.

NANS stressed that the student loan scheme was established to ease the financial burden on students and improve access to higher education, warning against any attempt to divert or misuse the funds.

“To be clear, NELFUND was established to ease the financial burden on students and expand access to education. Any attempt by individuals or the management of any institution to exploit the scheme for personal gain or divert funds meant for students is a betrayal of public trust and an attack on the educational aspirations of Nigerian youths,” Akinteye stated.

The association condemned what it described as any alleged diversion, misappropriation, inflation or fraudulent disbursement of NELFUND funds by any institution found culpable.

It specifically called on the EFCC to launch a comprehensive investigation into the alleged discrepancy and circumstances surrounding the disbursement of funds to the polytechnic.

NANS also urged the management of D.S. Adegbenro ICT Polytechnic to publicly explain the discrepancy, provide a transparent account of all NELFUND-related transactions involving its students and refund any funds found to have been improperly withheld.

The student body further appealed to NELFUND management to strengthen oversight and accountability mechanisms to prevent abuse of the scheme and ensure that all disbursements are used strictly for their intended purposes.

Akinteye reaffirmed the association’s commitment to defending the interests of Nigerian students and combating corruption within the education sector.

“Let me state without any form of equivocation that under my leadership, NANS shall not compromise. As a body, we remain committed to protecting the interests of Nigerian students. The future of Nigerian students must not be compromised by acts of corruption, recklessness, or financial misconduct,” he said.