NANS Blocks Lagos-Ibadan Expressway Over Alleged Mismanagement of ₦100 Billion Student Loan Fund

The National Association of Nigerian Students (NANS) staged a significant protest on Monday, obstructing both lanes of the Lagos-Ibadan Expressway near the Redeemed Christian Church of God (RCCG) Camp in Mowe, Ogun State. The demonstration aimed to highlight alleged mismanagement of the Nigerian Education Loan Fund (NELFUND), where ₦71.2 billion out of the allocated ₦100 billion remains unaccounted for.

The protest caused a substantial traffic gridlock, halting vehicular movement for over an hour. Despite appeals from security agencies, including the Divisional Police Officer of Mowe Division, CSP Afeniforo Folake, the students maintained their blockade, emphasizing the urgency of their demands. NANS leaders, including National Vice President Akinbodunse Sileola Felicia and Ogun State Chairman Gabriel Abiola Francis, expressed their intent to draw President Bola Ahmed Tinubu’s attention to the alleged corruption within NELFUND.

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has initiated a comprehensive investigation into the discrepancies in NELFUND’s disbursements. Reports indicate that 51 tertiary institutions are implicated in unauthorized deductions ranging from ₦3,500 to ₦30,000 from students’ institutional fees funded by NELFUND. NANS has called for the publication of these institutions’ names and the immediate removal of culpable officials.

In response to the growing concerns, NELFUND has scheduled a meeting with all Student Union Government (SUG) presidents and NANS national executives in Abuja on Thursday. The meeting aims to address the implementation of the student loan scheme and discuss issues related to unauthorized deductions and delayed disbursements.

NANS has warned of nationwide protests if the government fails to recover the missing funds and implement reforms to ensure transparency and accountability in the administration of student loans. The association emphasized that any official found guilty of mismanaging the funds should face appropriate sanctions, regardless of their position.

The protest underscores the students’ demand for immediate action to safeguard the integrity of educational funding and ensure that financial assistance reaches its intended beneficiaries without exploitation.