NELFUND: How tertiary institutions, banks rip off students — NOA,
By Olasunkanmi Akoni
The National Orientation Agency, NOA, has raised the alarm on how tertiary institutions and banks were conspiring to short-change students with disbursement of the Federal Government Student Loan Fund.
Director General, NOA, Mallam Lanre Issa-Onilu, announced the findings after a meeting with NELFUND Managing Director, Mr Akintunde Sawyerr, weekend.
Sawyerr had confirmed that some institutions were failing to inform students about loan disbursements made in their name while still requiring them to pay tuition fees.
Issa-Onilu in his response, revealed: “Recent investigations into the disbursement of the federal government student loan fund have uncovered several unethical practices by some institutions of higher learning.
“According to the latest report by the Community Orientation and Mobilisation Officers, COMO, of the National Orientation Agency, NOA, schools and banks are conspiring to short-change the students.
“Initial reports indicated that certain university officials have been withholding vital information regarding loan disbursements, prompting immediate action from NELFUND.
“The NOA’s feedback shows how specific institutions have, in connivance with some banks, deliberately delayed payments to successful student applicants for personal financial benefit. Some universities fail to acknowledge the NELFUND’s disbursements to the students.
“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.
“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.”
Responding to this, Issa-Onilu issued a strong warning to the institutions and collaborating banks to cease such activities.
NOA also directed its state directorates to provide further feedback from students across the country to ensure the Federal Government took appropriate actions against erring schools and banks.
The post NELFUND: How tertiary institutions, banks rip off students — NOA appeared first on Vanguard News.
,
By Olasunkanmi Akoni The National Orientation Agency, NOA, has raised the alarm on how tertiary institutions and banks were conspiring to short-change students with disbursement of the Federal Government Student Loan Fund. Director General, NOA, Mallam Lanre Issa-Onilu, announced the findings after a meeting with NELFUND Managing Director, Mr Akintunde Sawyerr, weekend. Sawyerr had confirmed […]
The post NELFUND: How tertiary institutions, banks rip off students — NOA appeared first on Vanguard News.
, , Nwafor, {authorlink},, , Vanguard News, April 15, 2025, 1:47 am
