Chairman of the House Committee on Student Loans, Scholarships, and Higher Education Financing, Hon. Ifeoluwa Ehindero, has explained that the ongoing investigation into the disbursement of ₦73.1 billion by the Nigerian Education Loan Fund (NELFUND) is not just a legislative duty, but a moral responsibility to protect the future of Nigerian students.
Speaking at the National Assembly during the opening session of the Joint Committee hearing, Hon. Ehindero, who represents Akoko North East/North West Federal Constituency, said the probe was triggered by growing concerns over alleged irregularities and unethical practices in how the funds were distributed.
“This probe is not a witch-hunt. It is a truth-seeking effort born out of the need to ensure that every kobo allocated to support Nigerian students is properly accounted for,” he said.
“When you’re dealing with ₦73 billion that directly impacts the lives of over 366,000 students, silence or complacency is not an option. This is about trust, fairness, and the future of our nation.”
The hearing, held in Conference Room 107 of the National Assembly Complex, stemmed from a resolution passed on May 28, 2025, after credible reports raised red flags about the integrity of the NELFUND disbursement process.
Hon. Ehindero lamented the absence of key stakeholders at the session, especially the Executive Director of Finance and Administration, whose input was considered central to addressing many of the committee’s inquiries.
“His absence significantly slowed our work today. We are not here to play politics; we are here to protect the dreams of young Nigerians. The Managing Director must ensure his presence at the next sitting,” he said.
Despite the setback, the committee disclosed that between January and June 2025, NELFUND disbursed ₦38.2 billion for tuition fees and ₦34.8 billion for student upkeep allowances, totalling ₦73.1 billion.
Hon. Ehindero praised the Federal Government’s Renewed Hope Agenda for launching the historic loan scheme but stressed that due diligence must follow such a major initiative.
“Any initiative meant to uplift our youth must be treated with seriousness. We owe it to the students, the parents, and the nation to ensure that this loan scheme is free of corruption and inefficiency. That’s what this probe is all about,” he added.
He called on all involved parties—NELFUND officials, civil society organisations, and relevant agencies—to cooperate fully and submit all requested documents promptly.
“We must set a standard where government intervention in education is transparent and student-centered,” he said.
