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FG Summons VCs, NELFund Boss Over Alleged N53.8bn Student Loan Diversion

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The Minister of Education,Tunji Alausa. Photo: X@NigEducation

The Federal Government has summoned Vice Chancellors of some Nigerian universities and the Managing Director of the Nigeria Education Loan Fund (NELFund) over alleged diversion of funds meant for the national student loan scheme.

The move follows a damning report that revealed about 51 tertiary institutions made unauthorised deductions from student loans under NELFund, prompting the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to commence a full-scale investigation.

Concerned about the gravity of the allegations, the Federal Ministry of Education has scheduled an emergency meeting for May 6, 2025, with the leadership of the implicated universities and the NELFund boss.

“The meeting will aim to thoroughly investigate the matter, ensure full accountability, and reaffirm the Ministry’s zero-tolerance policy toward financial malpractice in the education sector,” the Ministry stated in a release signed by its Director of Press and Public Relations, Mrs. Boriowo Folasade.

The Minister of Education, Dr. Olatunji Alausa, described the report as “very disturbing” and a potential breach of public confidence.

“If proven true, such actions would constitute a gross violation of public trust and a betrayal of the government’s commitment to equitable access to education,” he was quoted as saying.

In response to the allegations and in a bid to strengthen transparency, the Ministry also announced a partnership with the Athena Centre to implement a compliance-tracking initiative. This will include the launch of a public countdown webpage to monitor transparency levels among Nigerian universities.

The government also plans to introduce an Annual University Transparency Index and provide technical support to institutions. A specialised training programme for university Bursars and ICT Heads is also in the pipeline to facilitate the creation and management of an open-portal initiative for student loan accountability.

NELFund was launched on May 24, 2024, to offer interest-free loans to students in Nigerian tertiary institutions. As of April 2025, the fund has disbursed a total of N53.8 billion — with N30.1 billion allocated for institutional fees and about N23.6 billion for student upkeep.

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Education

ADC guber candidate, Adegoke decries 674,324 out-of-school children in Oyo

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The governorship candidate of the African Democratic Congress (ADC) in Oyo State, Chief Adegboyega Adegoke, has expressed concern over the growing number of out-of-school children in the state.

Adegoke raised the concern on Monday in Ibadan, the state capital, while speaking at the inauguration of his campaign council.

He described the situation as worrisome, noting that urgent steps were needed to ensure that children of school age have access to quality education.

Mega Icon Magazine recalled that a recent report indicated that Oyo State has the highest number of out-of-school children in the South-West, with about 674,324 children between the ages of three and 17 reportedly out of school.

Adegoke said it was disturbing that the situation persisted despite the huge federal allocations accruing to the state.

He stressed the need for greater attention to education and grassroots development, saying local government autonomy would help drive human development and economic growth at the grassroots.

“Local government autonomy is a vital tool in grassroots human development and economic growth,” he said.

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Education

Tinubu Appoints Adelabu Rector, Federal Polytechnic Ayede

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President Bola Ahmed Tinubu has approved the appointment of Dr Isiaka Tunji Adelabu as the substantive Rector of the Federal Polytechnic, Ayede, Oyo State.

The appointment, which took effect on August 5, 2026, was announced by the Acting Director of the Centre for Information, Communication and Public Relations (CICPR), Sunday Adepoju, on behalf of the institution.

Adepoju, in a statement, quoted the Registrar of the polytechnic, Akinlolu Akinpade, as saying that Adelabu’s appointment was approved by President Tinubu.

Until his appointment, Adelabu was a Chief Lecturer in the Department of Accountancy at the Federal Polytechnic, Ede, Osun State, where he also served as a Chartered Accountant.

He had held several administrative positions at the institution, including Head of Department, Dean of School and Deputy Rector (Administration).

His appointment, according to the polytechnic, brings to the institution a combination of academic experience and administrative exposure considered vital to its continued development.

Akinpade said Adelabu’s track record and experience would position him to contribute meaningfully to the growth of the institution.

He urged members of the polytechnic community to extend their full support and cooperation to the new Rector as he settles into office.

The Registrar said: “The support and cooperation of the entire polytechnic community will be crucial to enabling the new Rector to advance the vision and mission of the institution.”

With the appointment, Adelabu becomes the second substantive Rector of the Federal Polytechnic, Ayede.

The management, staff and students of the institution, as well as the Governing Council, congratulated Adelabu on his appointment and wished him wisdom, strength and the capacity to provide purposeful leadership and take the polytechnic to greater heights.

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MAKPOLY holds maiden Music Technology performance exam

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Michael Adeniyi Koleosho Polytechnic, Saki, Oyo State, on Wednesday recorded a major milestone with the conduct of the maiden final-year performance examination for the pioneer student of its Department of Music Technology, marking a new chapter in the institution’s commitment to practical and creative education.

The examination, held at the TETFund Building of the School of Business and Communication Studies, featured Master Okegbola Moses Bright, the department’s first National Diploma student. Lecturers, students, family members and other guests gathered at the venue to witness what many described as a historic moment for the institution.

The practical assessment was coordinated by the Acting Head of the Department, Dr. Abegunrin Adebayo Olugbenga, while two external examiners from The Polytechnic, Ibadan, Dr. Rotimi Ologududu and Dr. Abiodun Akere, evaluated the student’s performance. The Dean of the School of Business and Communication Studies, Mr. Waheed Popoola, and other senior officials of the polytechnic also attended the exercise.

Welcoming guests, Abegunrin described the occasion as a landmark in the department’s history, saying it signalled that the vision behind establishing the programme was becoming a reality.

He said, “Today marks a milestone not just for our department, but for Michael Adeniyi Koleosho Polytechnic. We are witnessing the stage performance of our very first Music Technology student. This is the first of many, and it shows that the seed we planted has begun to bear fruit.”

He explained that the performance examination is a compulsory practical requirement for the award of the National Diploma in Music Technology, adding that it is designed to assess students’ creativity, technical competence and stage performance.

“Music Technology is not just about theory; it is about performance, production and impact. Our pioneer student is setting the standard for those who will come after him,” he added.

Congratulating the student for blazing the trail, Abegunrin urged him to perform with confidence, passion and professionalism. He also encouraged other students in the department to remain focused and committed, assuring them that they, too, would have the opportunity to showcase their talents in due course.

Speaking on the department’s future, the acting head said plans were underway to expand its studio facilities, strengthen collaboration with industry players and build a programme capable of producing graduates with the skills to thrive in the music and creative industries.

“Our goal is to make this department a hub for sound production, live performance, music business and digital creativity in Oyo State and beyond,” he said.

Abegunrin thanked the management of the polytechnic for its continued support and expressed appreciation to the Dean of the School of Business and Communication Studies, members of staff and other stakeholders for their contributions to the growth of the Department of Music Technology, saying their commitment had been instrumental to the programme’s success.

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