By The People’s Insight
The National Association of Polytechnic Students (NAPS) has issued a stern five-day ultimatum to the Nigeria Education Loan Fund (NELFUND), demanding full transparency in the disbursement of student loans.
In a communiqué jointly signed by NAPS President Eshiofune Oghayan and Senate President Oyewumi Ayomide, the student body insisted that NELFUND must publicly disclose a comprehensive breakdown of the loan disbursements, particularly detailing the amount allocated to polytechnic students.
The demand comes amid mounting allegations of irregularities surrounding the loan scheme. According to recent revelations by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), while NELFUND claims to have disbursed N100 billion in student loans, only N71 billion has been properly accounted for—leaving a staggering N29 billion in question.
This discrepancy has triggered widespread outrage across the country. Earlier this week, members of the National Association of Nigerian Students (NANS) staged a massive protest, blocking the Lagos-Ibadan Expressway to express their frustration over the opaque handling of the loan scheme.
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NAPS has now threatened to escalate the situation if NELFUND fails to respond within the five-day window. Their proposed actions include:
– Nationwide protests led by polytechnic students;
– Submission of formal petitions to the Department of State Services (DSS) and the Economic and Financial Crimes Commission (EFCC);
– Calls for a full-scale investigation into the alleged mismanagement of funds;
– Mobilization of democratic pressure to ensure justice is served.
“We are giving the NELFUND board a five-day ultimatum to release a detailed breakdown of the disbursement process—specific figures showing how polytechnic students have benefited,” the statement read.
NAPS maintains that unless these demands are met promptly, it will pursue every legal and democratic channel available to hold NELFUND accountable.
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