Education Ministry Reacts, Convenes Emergency Meeting Over Alleged NELFUND Loan Diversion
The Federal Ministry of Education has committed to looking into claims of money being taken out of and diverted from student loans made through the Nigeria Education Loan Fund (NELFUND).
The ministry’s director of press and public relations stated in a statement Thursday that the claim will be discussed at an urgent meeting with the managing director of NELFund and the vice chancellors of the impacted universities on May 6, 2025.
Dr. Marut Olatunji Alausa, the Minister of Education, characterized the accusations as “very disturbing and extremely concerning,” the statement continued.
Anyone found guilty would get the proper punishment, the Ministry promised.
The Federal Ministry of Education is deeply concerned about a report that was published by The Guardian Newspaper on Tuesday, April 29, 2025, claiming that certain Nigerian universities had taken money out of the Nigerian Education Loan Fund (NELFund) scheme without authorization.
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Dr. Marut Olatunji Alausa, the Honourable Minister of Education, called the accusations “very disturbing and extremely concerning,” stressing that any unapproved deductions from student loans not only violate financial ethics but also jeopardize the foundation upon which the NELFund was founded.
“Such acts would be a flagrant betrayal of the government’s commitment to equitable access to education and a gross violation of public trust if proven true,” he said.
The primary goal of our National Education Sector Reform Initiative (NESRI) is still governance.
Assuring that every kobo allotted for student welfare is spent properly, encouraging responsible financial behavior, and enhancing transparency are our top priorities. I want Nigerians to know that this issue will not be ignored. Anyone found at fault will be subject to the proper penalties.
According to reports, President Bola Tinubu’s pledge to protect the fund’s integrity and guarantee that all Nigerians have access to high-quality education was also reiterated in the statement.
President Bola Ahmed Tinubu, who established the NELFund as a flagship initiative, made sufficient budgetary provisions to support both students and institutions in a fair and transparent manner, Dr. Alausa added. The NELFund was established to increase students’ access to high-quality education and to provide universities with financial support in a sustainable and safe manner. Any attempt to misuse this fund is intolerable and goes against the president’s goal of developing human capital inclusively.
“The Honorable Minister reiterated the administration’s dedication to safeguarding public funds and guaranteeing that students benefit fully from all government education assistance programs.”
