By Admin 
Abuja, April 14, 2025 –
A recent investigation has revealed troubling misconduct by several tertiary institutions and banks in the administration of the Federal Government’s student loan program. Findings by the Community Orientation and Mobilisation Officers (COMO) of the National Orientation Agency (NOA) indicate that certain universities, in collaboration with some banks, are deliberately short-changing students.
The Director General of NOA, Mallam Lanre Issa-Onilu, disclosed the findings following a high-level meeting with Mr. Akintunde Sawyerr, Managing Director of the Nigerian Education Loan Fund (NELFUND), over the weekend.
According to reports, some institutions have been withholding vital information from students regarding their approved loan disbursements. In some cases, funds sent directly to institutions by NELFUND are neither acknowledged nor recorded, leaving students unaware of their entitlements and still burdened with tuition demands.
“Recent findings by NELFUND have shown that some institutions have received student loan disbursements directly into their accounts yet neglect to inform the affected students or record the payments in their financial records, leading to unnecessary confusion,” Mr. Sawyerr stated. “Withholding critical financial information from students is not only unethical but also a breach of the principles on which NELFUND was founded. We are prepared to take legal action against any institution engaged in such deceptive practices.”
The NOA has now launched a nationwide effort to collect more student feedback through its state offices, aiming to identify and penalize institutions and banks involved in these actions. Mallam Issa-Onilu has issued a strong warning, urging all parties involved to cease such unethical practices immediately.
“This administration is committed to ensuring transparency and fairness in the student loan system,” he added.
The Federal Government has reiterated its commitment to protecting the rights of students and ensuring that the loan program fulfills its purpose of enabling equal access to tertiary education.