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House of Representatives Committee on Students Loan Vows to Ensure Transparency and Accountability in Student Loan Scheme

Strategic Insights

— 1 min read

The House of Representatives Committee on Students Loan has announced its commitment to ensuring transparency, accountability, and fairness in the administration of the student loan scheme of the federal government. Led by Chairman Hon. Ifeoluwa Ehindero, the committee is conducting an investigative hearing to probe alleged unethical practices in the disbursement and management of student loans by the Nigerian Education Loan Fund (NELFUN). The hearing aims to uncover instances of diversion, non-disclosure, and mismanagement of student loan disbursements, as well as non-compliance with the Student Loans Act, 2024.

Key Takeaways:

  • The House of Representatives Committee on Students Loan has vowed to ensure transparency and accountability in the student loan scheme, following allegations of unethical practices by the Nigerian Education Loan Fund (NELFUN).
  • As of June 30, 2025, NELFUN had disbursed N73,113,908,543 in loans to 366,247 students across federal and state tertiary institutions, with N38,262,648,545 allocated to tuition fees and N34,851,260,000 for upkeep allowance.
  • The committee is conducting a joint investigation with the committees on Scholarships and Higher Education Financing; Banking and other Ancillary Matters; Anti-Corruption and University Education.
  • The hearing is focused on fact-finding and truth-seeking, with the aim of holding institutions accountable for any wrongdoing.
  • The committee's commitment is to the Nigerian people, particularly the youth who rely on government programs like NELFUND for opportunities and support.

Statistics:

  • N73,113,908,543: Total amount disbursed in loans by NELFUN as of June 30, 2025.
  • 366,247: Total number of student beneficiaries across federal and state tertiary institutions.
  • N38,262,648,545: Amount allocated to tuition fees.
  • N34,851,260,000: Amount allocated for upkeep allowance to over 206 beneficiary institutions.

Sources:

  • "House of Representatives Committee on Students Loan vows to ensure transparency, accountability and fairness in student loan scheme", The Cable News (June 25, 2025)
  • "Joint Committee to probe NELFUN over alleged diversion, non-disclosure and mismanagement of student loans", Premium Times (June 23, 2025)
  • "NELFUN disburses N73B in loans to 366,247 students, says Ehindero", Nigerian Tribune (June 30, 2025)

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