The House of Representatives has launched a probe into alleged breaches of the Student Loan Act following claims of misconduct in the disbursement of funds.
The motion, raised by lawmaker Aliyu Mustapha, cited disturbing cases including loan payments made to graduates and institutions receiving funds after students had already paid their fees.
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The Nigerian Education Loan Fund is reported to have disbursed over ₦54 billion to more than 500,000 applicants. However, the House says some universities and financial institutions may have colluded to delay or divert funds.
The House has directed its relevant committees to investigate, and has called for refunds and sanctions against any institution found violating the law. NELFUND has also been urged to strengthen its monitoring systems.
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