Connect with us

General

Reps Probe Alleged Student Loan Mismanagement

Published

on

Reps Summon

By Adedapo Adesanya

The House of Representatives has launched an official investigation into accusations of fund misappropriation, regulatory violations, and unethical practices linked to the student loan scheme established by the Bola Tinubu-led administration.

Lawmakers cautioned that such issues could jeopardize one of Nigeria’s most crucial educational support initiatives.

During the opening session of the public hearing, Speaker of the House, Mr Tajudeen Abbas, affirmed the legislature’s resolve to prevent the student loan initiative from being undermined by administrative inefficiencies, weak oversight, or intentional misconduct.

Mr Abbas stated that public trust and the credibility of the programme are at risk, stressing that lawmakers would not remain passive while serious allegations were ignored.

The investigative hearing, organized jointly by the House Committees on Public Accounts and Students Loans, aims to examine allegations of delayed fund releases, lack of openness, and potential collusion among stakeholders involved in administering the loan scheme.

Mr Abbas called the investigation both a constitutional duty and an ethical obligation to safeguard the interests of young Nigerians who rely on the scheme to pursue higher education.

Referring to Sections 88 and 89 of the 1999 Constitution (as amended), Mr Abbas reminded the audience that the National Assembly holds the legal authority to scrutinize the performance of any entity responsible for implementing its legislation.

He reiterated the investigation was not designed to target individuals unfairly, but rather to expose systemic failures, improve procedural efficiency, and reinforce transparency in the use of public resources.

“Our intention is not to witch-hunt but to guarantee that every naira meant for Nigerian students is spent responsibly and in an open manner.”

He praised the Nigerian Education Loan Fund (NELFUND), created under the Student Loans (Access to Higher Education) Act of 2024, as a cornerstone of President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Mr Abbas noted that so far, over 600,000 applications had been processed and more than N73 billion disbursed to students nationwide.

Despite these achievements, he warned that rising claims of fund mismanagement could derail what should be a groundbreaking educational support effort.

“This hearing is designed to verify the allegations, pinpoint procedural or institutional shortcomings, and propose corrective actions, including disciplinary measures if warranted.”

The Committee Chairman, Mr Ifeoluwa Ehindero acknowledged the student loan programme had revived hope for many Nigerian households and was already delivering measurable impact.

According to Mr Ehindero, by June 30, 2025, a total of N73.1 billion had been distributed to 366,247 students in federal and state tertiary institutions.

“Out of this sum, N38.26 billion was used for tuition, while N34.85 billion went toward upkeep support, benefitting students in more than 206 institutions.”

He commended Speaker Abbas for his leadership and dedication to openness, which had empowered the joint committee to establish a neutral platform focused on accountability and reform.

“Our mission is not punitive,” Mr Ehindero said, “We aim to enhance transparency, strengthen the disbursement framework, and ensure the scheme benefits all parties involved.”

In his remarks, Akintunde Sawyer, the Managing Director of NELFUND, reported the Fund had registered over 650,000 applicants and currently processes around 2,000 applications per day.

He clarified that every application is subjected to a verification process, and funds are disbursed directly to the applicants’ institutions upon approval.

The House Committees however resolved to hold additional hearings with regulatory bodies, key institutions, and students affected by the process, with the ultimate goal of rebuilding public trust in the student loan initiative.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

General

SERAP in Court to Force INEC to Account for N55.9bn for 2019 Elections

Published

on

serap inec

By Modupe Gbadeyanka

The failure of the Independent National Electoral Commission (INEC) to account for about N55.9 billion earmarked for the purchase of some materials for the 2019 general elections has forced the Socio-Economic Rights and Accountability Project (SERAP) to file a lawsuit against the commission.

In the suit number FHC/ABJ/CS/38/2026 filed last Friday at the Federal High Court in Abuja, SERAP asked the court for an order of mandamus to compel INEC to disclose the names of all contractors paid the sum of money.

It was claimed that the N55.9 billion was meant for the purchase of smart card readers, ballot papers, result sheets and other election materials for the 2019 general elections, which produced the late Mr Muhammadu Buhari as President for a second term in office.

SERAP is relying on the latest annual report published by the Auditor-General on September 9, 2025, to ask for the use of the funds, which is said to be missing or diverted.

The organisation argued that the electoral umpire “must operate without corruption if the commission is to ensure free and fair elections in the country and uphold Nigerians’ right to participation.”

“INEC cannot ensure impartial administration of future elections if these allegations are not satisfactorily addressed, perpetrators including the contractors involved are not prosecuted and the proceeds of corruption are not fully recovered,” a part of the statement issued by the group stated.

“INEC cannot properly carry out its constitutional and statutory responsibilities to conduct free and fair elections in the country if it continues to fail to uphold the basic principles of transparency, accountability and the rule of law.

“These allegations also constitute abuse of public office and show the urgent need by INEC to commit to transparency, accountability, clean governance and the rule of law,” it further declared.

Continue Reading

General

Finance Ministry Directs Shippers, Airlines to Submit Manifests via Single Window Project

Published

on

NLNG Shipping Arm

By Adedapo Adesanya

The Ministry of Finance has directed all shipping companies and airlines operating in Nigeria to submit their manifests through the Single Window Project (SWP) as part of efforts to strengthen cargo tracking and transparency.

The submission of shipping manifests before the change of policy was handled exclusively by the Nigeria Customs Service (NCS) for onward cargo processing and port clearance.

However, following a memo from late last year signed by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, all shipping firms and airlines were directed to integrate with the National Single Window platform to ensure seamless Manifests submission.

“I would like to bring to your attention that His Excellency, President Bola Ahmed Tinubu inaugurated the National Single Window (NSW) Project on the 16th of April 2024.

The NSW Project aims to streamline and automate import and export processes at Nigeria’s entry & exit ports, with the dual goals of enhancing trade facilitation and increasing government revenue.

“By integrating the operations of multiple government agencies involved in trade processes on one platform, the NSW platform will ensure faster clearance of goods and services, improve operational efficiencies at the imports and significantly reduce bureaucratic bottlenecks.

“Key components of the Single Window as defined by the World Trade Organisation (WTO) and World Customs Organisation (WCO) include: (a) a single-entry point i.e. traders, shipping lines, airlines and other stakeholders should submit all required import and export documentation through a single-entry point on a centralized digital platform, and (b) single submission i.e. all documentation should only be submitted once and data only entered once.

“As a result, the NSW Platform will be the single-entry point of submission for all Sea and Air Manifests. Therefore, all shipping lines and airlines are therefore directed to integrate with the NSW Platform to ensure seamless Manifests submission,” parts of the memo read.

The Comptroller-General of the NCS, the chairman of the Nigerian Revenue Service (NRS), the Managing Director of the Nigerian Ports Authority (NPA), the Managing Director of the Federal Airports Authority of Nigeria (FAAN) and the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) were copied in the memo.

Continue Reading

General

Dangote Drags ex-NMDPRA Boss Farouk Ahmed to EFCC

Published

on

Dangote and Farouk

By Aduragbemi Omiyale

The petition written against the immediate past chief executive of the Midstream Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed, which was withdrawn from the Independent Corrupt Practices and Other Related Offences Commission (ICPC), has now been taken to the Economic and Financial Crimes Commission (EFCC).

The letter was written by the chairman of Dangote Industries Limited (DIL), Mr Aliko Dangote. It contained allegations of allegations of abuse of office and corrupt enrichment against Mr Ahmed.

The petition led to the resignation of the former NMDPRA chief from office last month.

It was gathered that Mr Dangote, through his legal representative, filed a formal corruption petition against him at the headquarters of the EFCC, with specific plea of prosecuting Mr Ahmed if found culpable.

The businessman said the withdrawal of the petition from the ICPC was a strategic move aimed at accelerating the prosecution process.

 In the petition signed by his lead counsel Mr O.J. Onoja (SAN), Mr Dangote noted that, “We make bold to state that the commission is strategically positioned along with sister agencies to prosecute financial crimes and corruption related offences, and upon establishing a prima facie case, the courts do not hesitate to punish offenders. See Lawan v. F.R.N (2024) 12 NWLR (Pt. 1953) 501 and Shema v. F.R.N. (2018) 9 NWLR (Pt.1624)337.”

He further urged the anti-money laundering agency, under the leadership of Mr Olanipekun Olukoyede, “…to investigate the complaint of Abuse of Office and Corruption against Engr. Farouk Ahmed and to accordingly prosecute him if found wanting.”

“The commission’s firm resolve in handling this matter with dispatch is not only imperative and expedient but will also serve as a deterrent to other public officers out there with such corrupt proneness and tendencies,” he added.

Recall that on December 14, 2025, Mr Dangote raised concerns about Mr. Ahmed’s financial dealings, alleging that the former regulator is living far beyond his legitimate means.

According to him, four of Mr Ahmed’s children attended elite secondary schools in Switzerland, incurring costs running into several millions of dollars—an expenditure that raises questions about potential conflicts of interest and the integrity of regulatory oversight in the downstream petroleum industry.

Mr Dangote listed the schools attended by Mr. Ahmed’s children: Faisal Farouk (Montreux School), Farouk Jr. (Aiglon College), Ashraf Farouk (Institut Le Rosey), and Farhana Farouk (La Garenne International School), noting that each child spent six years in these institutions. He estimated annual tuition, travel, and upkeep per child at $200,000, totaling approximately $5 million for their secondary education.

Additionally, he alleged that Mr Ahmed spent another $2 million on tertiary education for the four children, including $210,000 for Faisal’s 2025 Harvard MBA program.

“Nigerians deserve to know the source of these funds, especially when many parents in Mr Ahmed’s home state of Sokoto struggle to pay as little as N10,000 in school fees,” Mr Dangote stated.

Continue Reading

Trending