Lawmaker cautions against politicising students’ loan scheme

Rep. Terseer Ugbor (APC-Benue), has warned against politicising the disbursement of loans to students of tertiary institutions in the country.

Ugbor, who represents Kwande/Ushongo Federal Constituency of Benue, in a statement on Friday, demanded openness and transparency in the management and disbursement of loans to students.

He also cautioned the Nigerian Education Loan Fund (NELFUND) to be wary of political interests in the management of the fund, including selection of vendors and recruitment of staff.

Ugbor, who was a former Chairman, House of Representatives Adhoc Committee on Students Loans, said that there must be equity, transparency and accountability in the scheme.

The  lawmaker alleged that there were no public records on the actual number of loans so far disbursed.

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According to him, no adequate  records of amount of money spent, duration of loans, repayment plans, number of participating institutions and the insurance policy covering these loans.

He explained that he was unable to tell how many students of Benue origin have received the loans, as a result of lack of public records.

He queried loan disbursements without a credit life insurance and health insurance for the students, questioning recovery method in cases of death, disability or default.

Ugbor called for more transparency in the management of the students’ loans, as one of President Bola Tinubu’s legacy initiatives.