The Academic Staff Union of Universities (ASUU) says it is not surprised by the recent corruption allegations surrounding the Nigerian Education Loan Fund (NELFUND), claiming the scheme was flawed from the start.
Speaking exclusively to Tribune Online on Friday, ASUU’s National President, Prof. Emmanuel Osodeke, reacted to a statement by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which revealed major irregularities in how NELFUND disbursed funds.
The ICPC disclosed that only ₦28.8 billion has been disbursed to students out of the ₦100 billion reportedly released to tertiary institutions. The agency is currently investigating 51 vice-chancellors for allegedly mismanaging the funds.
Osodeke said the revelations confirmed what ASUU had warned about from the beginning. “We never believed in this loan scheme because we’ve seen it fail in the past due to corruption. This is not new,” he said.
He explained that corruption in Nigeria’s student loan scheme is deeply rooted and dates back decades. “The first student loan scheme in 1992 collapsed because of corruption. The one in the early 2000s failed for the same reason. Why would this one be different?” he asked.
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According to him, rather than burdening students with loans they may struggle to repay, the government should provide grants or scholarships. He pointed out the irony in giving billions for religious pilgrimages while claiming not to have funds for education.
“How can the government give over ₦90 billion for pilgrimages, yet say they can’t give ₦42.2 billion as grants to students? Which should come first—education or religion?” he questioned.
Osodeke argued that corruption in Nigeria’s student loan scheme is part of a broader issue of misplaced priorities by political leaders. He said many of today’s leaders benefited from free education and bursaries but are unwilling to offer the same to younger generations.
“Even ASUU, as a union, gives out scholarships to indigent students. So why can’t the government, with far more resources, do the same?” he added.
He called for a full investigation into the matter and insisted that any individuals or institutions found guilty should face justice. “No matter their position, people should be held accountable,” he said.
ASUU’s continued criticism highlights growing concerns about the future of Nigeria’s education funding and student welfare. As the investigation unfolds, the spotlight remains on corruption in Nigeria’s student loan scheme and whether the government will make lasting reforms.
