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.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

General

TCN Confirms Destruction of Six Transmission Towers in Nasarawa

Published

on

Transmission Towers

By Adedapo Adesanya

The Transmission Company of Nigeria (TCN) has confirmed the destruction of six transmission towers along the Apir–Lafia 330kV line in Nasarawa State, causing significant disruption to electricity supply in parts of the country.

In a statement issued on Wednesday, TCN spokesperson, Mrs Ndidi Mbah, said the incident occurred on May 30 at about 1:15 a.m. during a heavy downpour.

She explained that the transmission line initially tripped, prompting operators to attempt a trial reclosure of Line II at about 2:08 a.m., but the effort failed.

A subsequent inspection of the transmission corridor, however, revealed extensive damage to key components of towers T125 to T130, confirming that the infrastructure had been vandalised.

“The tripping of the lines prompted a physical line trace to determine the fault, which revealed damage to critical components of towers T125 to T130, confirming vandalism on the affected sections of the transmission corridor,” Mbah said.

The incident has forced both Apir–Lafia 330kV Transmission Lines I and II out of service pending the reconstruction of the damaged towers.

TCN said its engineers have been deployed to the site to assess the extent of the damage and determine the materials required to restore normal transmission along the corridor.

As an interim measure, the Lafia 330kV Transmission Station is being supplied through an alternative line to minimise the impact on electricity consumers within the franchise areas of Abuja Electricity Distribution Company (AEDC) and Jos Electricity Distribution Company (JEDC).

The company condemned the persistent vandalism of power infrastructure, warning that such acts undermine investments in the electricity sector and threaten the stability of the national grid.

It also urged residents and host communities to remain vigilant and report suspicious activities around transmission installations to security agencies or the nearest TCN office.

TCN stressed that safeguarding critical national infrastructure requires collective responsibility to ensure a reliable and uninterrupted electricity supply nationwide.

Continue Reading

General

IFC, NGX Group, LCCI Unveil Nigeria Gender Country Programme

Published

on

Gender and Equal Opportunities Commission

By Aduragbemi Omiyale

A Nigeria Gender Country Programme (NGCP) to advance private sector action on gender equality and inclusive economic growth has been unveiled at a high-level virtual CEO Roundtable convened by the International Finance Corporation (IFC), Nigerian Exchange (NGX) Group Plc, and the Lagos Chamber of Commerce and Industry (LCCI).

The NGCP builds on the momentum of Nigeria2Equal and other initiatives that have advanced workplace inclusion, women’s leadership, entrepreneurship, and sustainable finance across Nigeria’s private sector.

Designed as a more integrated and collaborative platform, the programme seeks to scale impact through coordinated action among development institutions, business leaders, regulators, and the organised private sector.

Anchored on three strategic priorities, the programme aims to increase women’s representation in leadership, improve access to quality employment, and expand access to productive assets—including finance, technology, and markets—for women and women-led businesses.

The partners are expected to formally launch the Nigeria Gender Country Program at a physical event scheduled for July 9, 2026, where stakeholders will further advance implementation of the programme’s strategic priorities.

At the virtual event, the Director General of the Securities and Exchange Commission (SEC), Mr Emomotimi Agama, said, “Gender inclusion is fundamentally an economic growth imperative. Closing gender gaps can unlock billions of dollars in value for Nigeria while strengthening business performance and national competitiveness. We must therefore move beyond viewing inclusion as a corporate social responsibility initiative or compliance exercise, and instead recognise it as a strategic driver of productivity, innovation, and sustainable economic growth.”

Commenting on the initiative, the chief executive of NGX Group, Mr Temi Popoola, said the initiative “presents a significant opportunity to deepen impact and accelerate progress across corporate Nigeria. By expanding women’s access to leadership opportunities, quality employment, finance, technology, and markets, we can unlock substantial economic value while building a more competitive, inclusive, and resilient private sector. At NGX Group, we believe the capital market has a critical role to play in advancing these outcomes through stronger governance, transparency, and stakeholder engagement.”

On his part, the IFC Head of Office in Lagos, Mr Christian Mulamula, said, “Closing the gender gap is one of the most significant opportunities to strengthen competitiveness and productivity. Across Africa, gender inequality is estimated to cost up to $2.5 trillion. Through the Nigeria Gender Country Program, IFC is working with the private sector to expand women’s leadership, improve access to better jobs, and increase opportunities for women-led businesses. Building on Nigeria2Equal, this initiative focuses on practical, measurable solutions that help businesses grow while advancing inclusive growth.”

In her remarks, the DG of LCCI, Ms Chinyere Almona, noted that the programme’s success would depend on leadership accountability and sustained commitment from business leaders, particularly in embedding gender inclusion into organisational strategy and execution.

Continue Reading

General

VDR, ECDIS Data Retrieved as NSIB Probes Maersk Vessel Collision at Bonny Anchorage

Published

on

Maersk Vessel Collision

By Adedapo Adesanya

The Nigerian Safety Investigation Bureau (NSIB) has commenced a forensic investigation into the collision between the container vessel MV Maersk Valparaiso and the oil tanker MT Lady Martina at Bonny Anchorage in Rivers State, following the download of Voyage Data Recorder (VDR) and Electronic Chart Display and Information System (ECDIS) data from the vessel for navigational analysis.

The bureau’s Director of Public Affairs and Family Assistance, Mrs Funke Adebayo Arowojobe, explained that in line with the International Maritime Organisation (IMO) Casualty Investigation Code and international obligations, NSIB had formally notified the Transport Safety Investigation Bureau (TSIB) of Singapore as a substantially interested State.

The incident, which occurred on May 20, 2026, has been classified by the bureau as a Very Serious Marine Casualty (VSMC).

She also said that NSIB activated its marine occurrence response protocols immediately after receiving notification of the incident, noting that the investigation Go-Team was deployed to Onne and Bonny on May 22 to commence evidence preservation and preliminary investigative activities.

The bureau disclosed that investigators boarded both vessels and conducted interviews with their masters and key crew members, while operational records and navigational data linked to the incident were secured.

Also, the director stressed that the bureau had commenced collaborative engagement with relevant local and international stakeholders as part of the investigation process, assuring the public and maritime stakeholders that the investigation would be conducted with professionalism, independence and thoroughness, stressing that the objective was to determine the causal and contributory factors of the occurrence and enhance maritime safety.

Continue Reading

Trending