Afrocover
  • Home
  • News
  • Politics & Policies
  • Africa-Wide
  • Opinions
  • Exclusive
  • About Us
    • Contact Us
No Result
View All Result
Afrocover
  • Home
  • News
  • Politics & Policies
  • Africa-Wide
  • Opinions
  • Exclusive
  • About Us
    • Contact Us
No Result
View All Result
Afrocover
No Result
View All Result

Students loan: FG exposes tertiary institutions shortchanging students through banks

By Emmanuel Oluwadola

April 14, 2025
in News
0
Students loan: FG exposes tertiary institutions shortchanging students through banks
Share on FacebookShare on TwitterShare on Whatsapp

The National Orientation Agency (NOA) through its Community Orientation and Mobilisation Officers (COMO), has exposed that some Nigerian tertiary institutions conspire with banks to short-change students with Federal Government loan funds.

NAO disclosed this in a press release by the COMO Deputy Director of Communications and Media, Paul Odenyi.

According to the agency, their investigation into the disbursement of the FG student loan revealed this unethical practice by these schools and banks.

Mallam Lanre Issa-Onilu, the Director General of the NOA, announced the findings after meeting with NELFUND Managing Director, Mr. Akintunde Sawyerr, over the weekend.

“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,” he said.

Akintunde also confirmed that some institutions are failing to inform students about loan disbursements made in their name while still requiring them to pay tuition fees.

He added, “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.”

In response, Mallam Issa-Onilu has issued a strong warning to these institutions and collaborating banks to cease such activities.

NOA has directed its state directorates to provide further feedback from students across the country to ensure that the Federal Government takes appropriate actions against erring schools and banks.

 

Related Posts

Oyo to ban Okada, keke riders without barcode jackets on roads
News

Oyo to ban Okada, keke riders without barcode jackets on roads

The Oyo State Road Traffic Management Authority (OYRTMA) has announced it will begin full enforcement of barcode jackets for...

by Rasheed Aladejana
June 28, 2025
Nigeria’s public debt hits N149.39tn as naira weakens, FG borrows more
Economy

Nigeria’s public debt hits N149.39tn as naira weakens, FG borrows more

Nigeria’s total public debt stock has risen to N149.39 trillion as of March 31, 2025, marking a sharp increase...

by Rasheed Aladejana
June 28, 2025
Rwanda, DRC sign US-brokered peace deal after years of conflict 
Africa-Wide

Rwanda, DRC sign US-brokered peace deal after years of conflict 

Rwanda and the Democratic Republic of Congo signed a US-brokered peace agreement Friday in Washington, a move aimed at...

by Rasheed Aladejana
June 27, 2025
NLNG commissions a $500k medical lab in Bauchi Teaching Hospital
News

NLNG commissions a $500k medical lab in Bauchi Teaching Hospital

  Nigeria Liquified Natural Gas (NLNG) has built a technologically advanced laboratory complex at Tafawa Balewa Teaching Hospital in...

by Editor
June 27, 2025
Next Post
Adelabu reveals Nigeria’s electricity supply improved by 700MW

Adelabu reveals Nigeria's electricity supply improved by 700MW

Afrocover news

The Afrocover team is a group of media enthusiasts that are committed to illuminate information fairness and objective media coverage across Africa. We also cover the depth of African Politics, History, Culture, Entertainment, and the Economy as the case may be.

© 2025 Afrocover – All right reserved

Subscribe To Our Newsletter

Loading
Facebook Twitter
No Result
View All Result
  • Home
  • News
  • Politics & Policies
  • Africa-Wide
  • Opinions
  • Exclusive
  • About Us
    • Contact Us

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.