Nigeria’s Minister of Education, Dr. Tunji Alausa, has declared that there was no fraud uncovered in the ongoing student loan scheme in the country.
The minister stated this at the end of a close door meeting held in Abuja, Nigeria with Vice Chancellors, officials of the National Universities Commission, Nigerian Education Loan Fund and the Federal Ministry of Education.
He said the statement put up by the Independent Corrupt Practices Commission and other related offences, ICPC earlier was incorrect, and the they have owned up to the mistakes leading to the misinformation.
“Let me start by saying that there is no fraud in NELFUND. ICPC reported that the information they put up earlier was not correct. There is no fraud in NELFUND; what we have are issues that have to do with the timeline,” said the minister.
To guide against the issues of the timeline, the minister announced the creation of a committee to streamline and standardise fee payment processes across tertiary institutions in the country.
He said the move aims to enhance financial operations between Nigerian universities and the Nigerian Education Loan Fund (NELFUND).
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“While universities had been receiving funds promptly, there was a pressing need to improve the timelines and efficiency of disbursement and notification processes.”
He said the move is not to overhaul the system but to enhance it.
“The current processes are working, but we are working to better the system we have now.
“The aim is to serve both NELFUND and our citizens more efficiently, and align with the broader agenda of the current administration,” he said.
Alausa said the committee comprises of representatives from NELFUND, the Ministry of Education, the National Universities Commission (NUC), and key university officials.
He added that the committee’s primary task will be to standardise the nomenclature for student fees and charges across universities.
Lateefah Ibrahim
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