The National Association of Nigerian Students (NANS) has called on the Economic and Financial Crimes Commission (EFCC) to investigate an alleged discrepancy in the disbursement and utilization of funds under the Nigerian Education Loan Fund (NELFUND) scheme at D.S. Adegbenro ICT Polytechnic, Itori, Ogun State.

 

In a statement signed by its President, Comrade Akinteye Babatunde Afeez, NANS expressed concern over reports suggesting inconsistencies between funds reportedly disbursed through the student loan scheme and amounts reflected in the institution's financial records.

 

According to the student body, documents and reports reviewed by its leadership indicated that while a sum of ₦355,000 was allegedly disbursed by NELFUND on behalf of a student, the institution's invoice reportedly reflected ₦236,000, creating a discrepancy that requires clarification.

 

NANS described the alleged development as troubling, noting that the difference between the amount reportedly disbursed and the figure recorded by the institution raises questions about transparency, accountability, and the management of funds intended to support students' education.

 

The association emphasized that NELFUND was established to reduce the financial burden on students and improve access to higher education, warning that any attempt to divert or mismanage funds under the scheme would undermine its objectives.

 

Consequently, NANS called on the EFCC to launch a comprehensive investigation into the alleged discrepancy and determine whether any financial misconduct occurred in the handling of NELFUND disbursements to the institution.

 

The student body also urged the management of D.S. Adegbenro ICT Polytechnic to provide a detailed public explanation regarding the alleged discrepancy and disclose all transactions related to NELFUND beneficiaries within the institution.

 

In addition, NANS called on NELFUND management to strengthen its monitoring and accountability mechanisms to ensure that funds disbursed under the scheme are utilized strictly for their intended purposes.

 

Akinteye stated that the association would continue to monitor developments surrounding the matter and remain committed to protecting the interests of Nigerian students.

 

As of the time of filing this report, the management of D.S. Adegbenro ICT Polytechnic had not publicly responded to the allegations.