General
Reps Probe Alleged Student Loan Mismanagement
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.
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it recorded a 30 per cent reduction in gas imbalance on the country’s Western Network following the conclusion of its first-half 2026 Nigerian Gas Network Reconciliation (NGNR) Workshop.
The workshop brought together gas transporters, suppliers, shippers and off-takers to reconcile gas volumes traded between January and June 2026, while introducing a Network Entry/Exit Point Measurement Infrastructure Audit Template aimed at improving metering accuracy and accountability across the gas transmission network.
In a communiqué issued after the workshop, the authority said participants also reviewed the performance of the Nigerian Gas Transmission Network, assessed progress on major pipeline infrastructure projects, and received updates on the ELPS Gas Shrinkage Factor and Hydraulic Modelling Project.
Discussions focused on addressing metering gaps, improving network visibility through Supervisory Control and Data Acquisition (SCADA) integration, and enhancing system reliability ahead of the commissioning of the Ajaokuta-Kaduna-Kano (AKK) Pipeline System.
The workshop adopted key resolutions, including the execution of outstanding Network Exit Agreements, mandatory submission of measurement audit templates and closer collaboration among industry stakeholders to improve network pressure management.
Speaking at the closing session on behalf of the authority’s chief executive, Mr Rabiu A. Umar, the Director of Transportation Systems and Networks, Mr Joseph G. Musa, said the biannual reconciliation exercise had become critical to promoting equitable gas transactions, transparency, investor confidence and efficient network operations.
Mr Musa noted that since the NGNR process was introduced in 2023, it had significantly improved gas measurement, strengthened regulatory compliance through consequence management, reduced operational imbalances and contributed to a more reliable domestic gas supply.
The workshop concluded with participants adopting the reconciled H1 2026 gas volumes, reaffirming the authority’s commitment to a transparent, efficient and reliable domestic gas market.
By Modupe Gbadeyanka
An investment that supports growing food and agriculture companies across Africa that strengthen agricultural value chains has been made by Swedfund.
The organisation is putting down about $12 million to strengthen climate resilience in African food systems through the Acumen Resilient Agriculture Fund II (ARAF II).
By improving access to markets, finance and essential services, these companies help smallholder farmers become more resilient to climate and economic shocks.
Over 30 million smallholder farmers operate across Sub-Saharan Africa, accounting for 80 per cent of all farms and producing 70 per cent of the region’s food (IFAD). Yet many face limited access to finance, quality inputs, reliable buyers and market information. At the same time, they are among those most exposed to climate change and weather-related shocks, which threaten harvests, incomes and food security.
The investment has an ambition to reach around four million smallholder farmers through ARAF II’s portfolio companies. It also aims to meet the criteria of the 2X Challenge, which promotes investments that support women’s economic empowerment.
ARAF II invests in businesses that address key gaps in agricultural value chains, from improving market access and reducing post-harvest losses to expanding financial and digital services for farmers. By helping these businesses grow, the investment aims to improve productivity, strengthen local value chains and increase the resilience of food systems.
Swedfund invests alongside other development finance institutions and investors to help mobilise long-term capital for businesses that often struggle to access financing despite their potential to strengthen food security, climate resilience and economic development across Africa.
“Climate change is already affecting the livelihoods of millions of smallholder farmers across Africa. Investing in businesses that improve access to markets, finance and agricultural services helps farmers strengthen their resilience, increase productivity and build more stable incomes. That is essential for more resilient food systems,” the Investment Director of Food Systems and Strategic Investments at Swedfund, Ms Helen Hagos, said.
By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to order a probe into the alleged diversion, disappearance and misapplication of more than N6.79 billion in public funds within the Nigeria Police Force (NPF) and the Federal Ministry of Police Affairs.
The grave allegations are documented in the latest Annual Report of the Auditor-General of the Federation published on September 9, 2025.
SERAP said, “Anyone suspected to be responsible—including contractors, companies and public officials implicated in the report—should be promptly prosecuted, while all missing public funds, firearms and ammunition should be fully recovered, secured and properly accounted for.”
In the letter dated August 1, 2026, and signed by SERAP deputy director, Mr Kolawole Oluwadare, the organisation said: “The Auditor-General’s findings suggest a grave betrayal of the public trust and raise serious concerns about corruption and the management of public funds, police exhibits, firearms and ammunition.”
SERAP said: “The report also raises serious concerns over missing firearms and ammunition, the unauthorised use and release of police exhibits, failures to properly account for exhibits, and the insecure storage of firearms, creating significant risks to public safety and national security.”
According to the group, “The diversion of funds meant for policing, abandoned security projects, missing firearms and ammunition, and the misuse of police exhibits undermine the operational effectiveness of the Nigeria Police Force, weaken public confidence and may contribute to Nigeria’s worsening insecurity.”
The letter, read in part: “The report documented numerous alleged financial irregularities within the Nigeria Police Force and the Federal Ministry of Police Affairs, including payments for projects that were never executed, abandoned contracts, inflated contract costs, and irregular procurement.”
“The report also documented unretired cash advances, unsettled insurance claims, payments for services allegedly not rendered, and other suspected diversion and misapplication of public funds amounting to over ₦6.79 billion.”
“The allegations also include missing firearms and ammunition, the unauthorised use and release of police exhibits, failures to properly account for recovered firearms and other exhibits, and the insecure storage of firearms, posing serious risks to public safety and national security.”
“We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal action to compel your government to comply with our request in the public interest.”
Some of the others include: N499,875,500.00 for the construction of Police College Phase II, Bashar, Plateau State; N12,931,000.00 for the rehabilitation of Block B, Department of Logistics and Supply (Works) building, Garki; N111,635,864.64 for the construction of 12 one-bedroom transit camp units and rehabilitation of the administration block at the NPF Pre-retirement Skills Acquisition Centre, Kudana, Kaduna State; N4,011,627.89 inserted as taxes to inflate a contract; N1,938,299,452.00 for 14 ongoing projects that were abandoned; N5,050,000.00 in monetary exhibits released without proper authorisation; N112,026,424.00 for outstanding allowances paid to officers to cover 2020 liabilities; and N6,000,000.00 as annual payment to the Inspector General of Police’s Senior Special Assistant on Revenue and Tax Matters.
Others include N10,080,000.00 as cash advances for the provision of office equipment and accessories for the NPF Database Management Centre; N438,066,845.73 for the supply of bulletproof vests, ballistic helmets and procurement of a Styr Punch Vistar troop carrier; N18,000,000.00 for the training of women in cosmetology and provision of empowerment kits in Ondo Central Senatorial District, Ondo State; N258,989,999.75 for the procurement of 10 JAC patrol vehicles for NPF outpost stations in Kano State; N30,853,250.00 as security allowances for personnel attached to the Ministry of Police Affairs; N681,406,593.18 for the settlement of insurance claims through insurance brokers; N1,628,108,434.18 for outstanding insurance policy liabilities for 2020/2021; N57,484,515.30 for the procurement of video cameras, customised umbrellas, gift bags and customised towels for the Nigeria Police Force Public Relations Office; N7,760,409.56 in withholding tax and value added tax that was not deducted from contracts awarded.
