• UNILORIN, FUTA deny involvement
The last is yet to be heard about The Guardian’s story on illegal deductions and double institutional fee collection by 51 tertiary institutions allegedly exploiting the Nigerian Education Loan Fund (NELFUND) student loan scheme.
However, the University of Ilorin (UNILORIN) and Federal University of Technology, Akure (FUTA) denied involvement in any shady deal related to the scheme’s administration.
Specifically, the Presidency has threatened sanctions against any institution found culpable.
A statement, yesterday, in Abuja by the Senior Special Assistant to the President on Student Engagement, Sunday Asefon, noted that the institutions’ actions, if left unchecked, might tarnish President Bola Tinubu’s commitment to inclusive education through the scheme.
Asefon, therefore, called on the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and other related offences Commission (ICPC) to liaise with the Federal Ministry of Education to get to the root of the matter.
According to the presidential aide, appropriate sanctions would serve as a deterrent to potential violators.
He said: “A recent investigative report by The Guardian has exposed that no fewer than 51 institutions are implicated in this scandal. These institutions have been found to deduct between N20,000 and N40,000 from students’ loan disbursements, an action that is not only fraudulent but also directly undermines the integrity and purpose of the student loan scheme.
“These illegal deductions, coupled with the refusal by some institutions to publicly announce the disbursement of funds to eligible students, represent a grave threat to the credibility of the NELFUND programme.”
The statement called for the establishment of a monitoring committee to oversee compliance by all tertiary institutions.
The panel, it added, should comprise of representatives from the Federal Ministry of Education, NELFUND, student bodies and the office of the Senior Special Assistant to the President on Student Engagement.
Asefon also called for the commissioning of anti-graft agencies, in collaboration with the Ministry of Education, to: investigate all reported cases of unauthorised deductions, identify culpable institutions and officials, and ensure appropriate sanctions are applied to deter further abuse.
IN separate statements made available to The Guardian, UNILORIN and FUTA denied involvement in shady deals.
The Director, Corporate Affairs of UNILORIN, Kunle Akogun, stated that the institution “does not levy students”.
The statement emphasised that while the first tranche of N52,897,000 for 802 students for the 2022/2023 session had been refunded, the second tranche of N219,407,370 for 2,171 beneficiaries had a shortfall of N2,500 each, based on expected school charges.
“The third Tranche of N679,020,930 was for 7,273 students. Payment to Batch 1 of this category (1,907 students), whose details have been confirmed for a full refund, is ongoing.
“For the avoidance of doubt, UNILORIN does not levy any student. As a responsible corporate citizen and one that is well-known for its zero tolerance for illegality, we do not engage in any shady deal to the detriment of our students, whom we hold very dearly.”
FUTA Director of Corporate Communications, Adegbenro Adebanjo, said: “Students captured in the first batch would start getting their refunds in the next 72 hours.
He stated: “Another reason for the slight delay in disbursement is that the fund was released in two tranches into the university’s CBN accounts: one batch into existing account and the other into a new account.
“The new account is yet to be linked to our payment platforms on Remita. We have written to the appropriate authorities to get the new account linked for the disbursement of fund.”
