The Nigerian Education Loan Fund (NELFUND) says about 34 tertiary institutions are under investigation for allegedly failing to refund students whose tuition fees were paid twice under the federal government’s student loan scheme.
Speaking during an interview on Arise Television on Sunday, Akintunde Sawyerr, managing director of NELFUND, said the agency has dispatched a five-man team, including operatives of the Economic and Financial Crimes Commission (EFCC) and internal auditors, to the affected institutions.
Sawyerr said the probe followed a surge in complaints received from affected students.
“As of right now, there are 34 institutions that we are looking at closely with respect to this issue,” Sawyerr said.
The NELFUND boss said the refund issue followed President Bola Tinubu’s directive that the student loan scheme commence in the middle of an academic session rather than at the start of a new one, a situation that led some students to pay their tuition while awaiting loan
