The National Association of Nigerian Students (NANS) has called for an immediate investigation into an alleged discrepancy in the disbursement and utilisation of funds under the Nigerian Education Loan Fund (NELFUND) scheme at D.S. Adegbenro ICT Polytechnic, Itori, Ogun State.
The students’ body, in a statement signed by its President, Comr. Akinteye Babatunde Afeez, said it was concerned over documents and reports allegedly showing a difference between the amount reportedly released by NELFUND and the amount reflected in the institution’s financial records.
According to NANS, while a total sum of ₦355,000 was reportedly disbursed by NELFUND to a student, the student’s institutional invoice allegedly showed a lower figure of ₦236,000.
The association said the alleged discrepancy raises questions about transparency, accountability, and the management of funds meant to support Nigerian students through the federal government’s education financing initiative.
NELFUND was established to provide financial assistance to eligible Nigerian students by covering educational expenses and reducing barriers to accessing tertiary education. The scheme has previously faced public scrutiny over concerns surrounding loan disbursement processes and institutional handling of student-related payments.
Reacting to the development, NANS condemned any alleged diversion, inflation, or misuse of student loan funds, describing such actions as a betrayal of the trust placed in institutions responsible for safeguarding students’ welfare.
The association called on the Economic and Financial Crimes Commission (EFCC) to investigate the matter and determine whether any financial misconduct occurred in relation to NELFUND payments involving the institution.
NANS also urged the management of D.S. Adegbenro ICT Polytechnic to provide a public explanation of the alleged discrepancy, disclose details of NELFUND-related transactions involving students, and ensure that any wrongly deducted funds are refunded.
The student body further appealed to NELFUND management to strengthen its monitoring and accountability systems to prevent possible abuse of the scheme across tertiary institutions.
“Under my leadership, NANS shall not compromise. We remain committed to protecting the interests of Nigerian students,” Afeez stated, adding that the future of students must not be undermined by corruption or financial misconduct.
NELFUND has previously stated that its student loan disbursement process is automated and digitally tracked, while denying allegations of mismanagement or diversion of funds under the scheme.
