The Congress of University Academics (CONUA) has called on the Federal Government to probe all universities and Vice Chancellors accused of mismanaging funds released to them by the Nigerian Education Loan Fund (NELFund) for the benefit of students who keyed into the scheme.
The group also demanded that the identities of such institutions and their leadership be made public and duly sanctioned if found guilty of the allegations. CONUA raised the concern in a statement by its National President, Dr Niyi Sunmonu, which was made available to reporters.
“We are deeply concerned that some institutions allegedly denied receiving funds disbursed to them by NELFund on behalf of their students, while others reportedly deposited the funds in interest-yielding bank accounts, actions that contravene the rules governing the use of the funds.”
The group described such action as fraudulent and a deliberate attempt to subvert a noble scheme designed to promote access to higher education and ease the financial burden on struggling students and their families.
“That is why, to us, it is disheartening that while the government is attempting to improve equity and access in education, some academic managers are reportedly undermining these efforts for personal gain. It is disappointing that the government is yet to name and shame the institutions and individuals involved publicly,” CONUA stated.
The group, however, maintained that the allegations must not be swept under the carpet. It noted that in a country where impunity has continued to undermine national development, exposing wrongdoing serves both as a deterrent to potential offenders and as a necessary punishment for those already complicit.
“Even more disheartening is that such acts are being perpetrated within the walls of our higher institutions, which should represent integrity, character-building, and national service. He frowned at a situation where those charged with shaping the minds and morals of future leaders are allegedly involved in financial misconduct.
To address the issue, the union called for an immediate independent probe of all implicated institutions and individuals. It urged anti-graft agencies such as the Economic and Financial Crimes Commission (EFCC) to take up the matter and ensure that those found culpable—whether institutions or individuals, are exposed and punished.
Sunmonu said it is also important to establish oversight mechanisms involving monitoring teams, comprising relevant stakeholders within the system, to track the disbursement and utilisation of student loans across various universities.
“Students must also be educated about their rights regarding the loan scheme and protected from financial extortion by their schools. Ethical reorientation is equally required to ensure that university leadership in Nigeria is transparent and accountable,” he noted.
The group, however, pledged its continued commitment to promoting integrity, equity, and justice in Nigeria’s public university system, arguing that this is the only path to true national prosperity.
