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ICPC Probes N71.2bn Discrepancy In Student Loan Disbursement

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The Independent Corrupt Practices and Other Related Offences Commission has commenced a comprehensive investigation into alleged discrepancies surrounding the disbursement of student loans under the Nigeria Education Loan Fund.

The National Orientation Agency had alleged that certain schools, working together with some banks, have purposely delayed payments to students who qualified for loans so they could make money off the situation.

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This was followed by a media report which alleged that some institutions made unauthorized deductions ranging from N3,500 to N30,000 from each student’s institutional fees received through the loan fund.

In a statement on Thursday by the ICPC spokesman, Demola Bakare, the commission stated that its Chairman’s Special Task Force immediately commenced investigations upon receiving the allegations.

He noted that the anti-graft agency preliminary findings revealed that while the Federal Government had reportedly released N100 billion for the scheme, only N28.8 billion was disbursed to students, leaving a massive unaccounted sum of N71.2 billion.

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READ ALSO: ICPC Arrests NSCDC Deputy Commandant Over Alleged Corruption

The statement read, “The ICPC has commenced a comprehensive investigation into alleged discrepancies surrounding the disbursement of student loans under the NELFUND.

“This action follows a recent media report alleging that no fewer than 51 tertiary institutions were implicated in illegal deductions and exploitation related to the NELFUND scheme.

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“These institutions were alleged to have made unauthorized deductions ranging from N3,500 to N30,000 from each student’s institutional fees received through the loan fund.

“Preliminary findings revealed a significant gap in the financial records of the disbursement process. While the Federal Government reportedly released N100 billion for the scheme, only N28.8 billion was disbursed to students, leaving an unaccounted sum of N71.2 billion.

“The Commission confirmed that its Chairman’s Special Task Force immediately swung into action upon receiving the report.”

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READ ALSO:ICPC Interrogates CBN Officials, Others Over $3.4bn COVID-19 Loan

Bakare noted that in the course of further investigations, the ICPC discovered that a total of N203.8 billion was received by NELFUND.

Out of this amount, Bakare said, N44,200,933,649.00 had been disbursed.

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This implies that approximately N159.6 billion remains. However, the ICPC did not explicitly state that this amount is missing.
When contacted on this, Bakare promised to revert, but he has yet to do so as of the time of filing the report.

Nonetheless, in the statement Bakare confirmed that a clear case of discrepancies has been established in the administration of the student loan scheme.

Bakare said, “Letters of investigation and invitations were dispatched to key stakeholders, including the Director General of the Budget Office, the Accountant General of the Federation, and senior officials from the Central Bank of Nigeria.

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READ ALSO: Court Affirms ICPC’s Power To Prosecute Delta Govt Officials

“Additionally, the Chief Executive Officer and Executive Director of NELFUND were invited to provide documentation and explanations relevant to the case. According to the Commission, the responses received were critically analyzed, and interviews were conducted with the concerned individuals.

“According to the ICPC, its strength of investigation revealed that the total money received by NELFUND as of March 19, 2023, was N203.8 billion. The breakdown showed that N10 Billion was an allocation from the Federation Allocation Account Committee, N50 billion was from the Economic and Financial Crimes Commission, N71.9B was from the Tertiary Education Trust Fund, while another N71.9 billion was also from the same Tertiary Education Trust Fund.

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“ICPC, however, found that the total amount disbursed to institutions from inception to date is about
N44,200,933,649.00, while a total of 299 institutions have benefited from the funds released. To date, the total amount disbursed to 299 beneficiary institutions stands at approximately N44.2 billion, with 293,178 students having benefited from the fund.

“The ICPC confirmed that a clear case of discrepancies has been established in the administration of the student loan scheme and announced that its investigation will now extend to beneficiary institutions and individual student recipients, ” the statement added.

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Uproar As Senate Okays Non-indigene As Rivers Electoral Commission Chairman

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There was an uproar in the Senate on Wednesday following the approval of a non- indigene, Dr. Michael Odey as the Chairman, Rivers State Independent Electoral Commission, RSIEC.

The confirmation of Odey, who hails from Cross River State, alongside other members of the Commission followed the consideration of the report of the Ad- Hoc Committee on Oversight of Emergency Rule in Rivers State presented by its chairman, Senator Opeyemi Bamidele (APC Ekiti Central).

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The development sparked as a few senators objected the appointment of a non-indigene to head a sensitive position as that of a state electoral commission.

Those confirmed as members of the RSIEC are Mr. Lezaasi Lenee Torbira, Prof. Author Nwafor, Prof. Godfrey Woke Mbgudiogha, Prof. Joyce Akaninwor, Dr. Olive A. Bruce and Prof. Chidi Halliday.

READ ALSO:Nigerian Senate Passes 2025 Budget For Rivers State

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Objecting to Odey’s confirmation, Senator Abdul Ningi (PDP Bauchi Central) said bad precedent should not be set by allowing a non-indigene to head the electoral commission of a state.

He said: “I objected as observed because if it is allowed and becomes the norm, it will not be well for the country.

“I do not see the necessity of having someone from another state to chair an electoral body.”

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Also kicking against the approval, former Senate Leader, Senator Ali Ndume, (APC Borno South), said it is wrong to scout for a non-indigene for such sensitive position when there are over one thousand indigenes who are qualified.

READ ALSO:Senate Sets Up Committee To Oversee Rivers Administrator

Referring to a comment by the Deputy Senate President, Jibrin Barau, the Minority Leader, Senator Abba Moro (PDP, Benue South), said politics was infused into the matter.

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“It is here that politics is brought into this matter. Nobody is objecting to the personality but to a question of morality this appointment has raised.

“I am not a lawyer and not talking law, we are talking about ethics. This is unethical. We should not intrude politics into what we do here,” Moro said.

But the Chief Whip of the Senate, Senator Tahir Monguno (APC, Borno North), argued that Odey’s appointment is constitutional and that there is nothing wrong im the confirmation by the Red Chamber.

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READ ALSO:May Day Shocker: NLC Cancels Celebrations In Rivers, Edo States

He said: “The constitution is the ground norm and inasmuch as there is no provision in the constitution that is against appointing a non-indigene, the confirmation is then in order.

“Any Nigerian is free to take up appointment in any state. I can be a governor in Benue State. We are talking about constitution, not morality.”

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The Senate Leader, Senator Opeyemi Bamidele while appreciating concerns raised, however, appealed that it is a matter that should not be politicized, saying “The matter does not call for grandstanding.”

He argued that Odey is both eligible and qualified as a PhD holder.

READ ALSO:Rivers Women Walk Out On Ibas’ Wife, Chant ‘We Want Fubara’

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Bamidele disclosed that the committee had also raised similar concern during the screening exercise where he called on Odey to provide constitutional evidence of his eligibility.

He said the Odey is eligible and qualified, adding that having the six other members from Rivers State, picking a non-indigene as chairman would create room for transparency and neutrality.

In his remarks, the Deputy Senate President, Barau, who presided over the session, insisted that anybody can work anywhere in Nigeria.

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Barau cited an example of an indigene of Edo State who is the Head of Service in Abia State.

READ ALSO:[BREAKING] Rivers: Pro-Fubara Supporters Protest, Demand Gov’s Reinstatement

He said the objection “is purely politics because it is coming from APC”.

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In the same development, the Senate also confirmed the appointment of members of the Rivers State Civil Service Commission and Local Government Service Commission nominated by President Bola Tinubu.

The Civil Service Commission consists of five members, including its Chairman, Dr Livinus Bariki, and Ambassador Lot Peter Egopija, Mrs Maeve Ere Bestman, Mrs Joy Obiaju and Mrs Charity Lloyd Harry as members.

Also confirmed are the chairman of the Local Government Service Commission, Mr Isreal N Amadi and Mr Linus Nwandem, Lady Christabel Ego, George Didia, Dr Tonye Willie D Pepple, Barrister Richard Ewoh, Rear Admiral Emmanuel Ofik (rtd) and Dr Sammy Apiafi, as members.
(DAILY POST)

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Nigerian Senate Passes 2025 Budget For Rivers State

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The Nigerian senate on Wednesday, passed the 2025 budget of Rivers State, to the tune of N1.485 trillion.

The passage came after the third reading of the appropriation bill on the Senate floor.

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This came after the upper chamber considered the report of the Ad-Hoc Committee on Rivers State during the Committee of Supply session.

DAILY POST reports that the bill seeks to authorize the issuance of N1,485,662,592,442 from the Consolidated Revenue Fund of Rivers State for the fiscal year ending December 31, 2025.

READ ALSO:Senate Sets Up Committee To Oversee Rivers Administrator

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According to the approved budget breakdown, N120.8 billion is for debt servicing, N287.38 billion is for recurrent (non-debt) expenditure, and N1.077 trillion is for capital expenditure.

Senator Abdul Ningi (Bauchi Central), while supporting the passage of the bill, however, raised a concern regarding the additional 50 billion naira earmarked for the payment of outstanding pensions and gratuities.

The lawmaker charged the Senate Ad-Hoc Committee to carry out more rigorous oversight to ensure that the funds reach the rightful pension beneficiaries without delay.

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DAILY POST reports that with the passage, the Rivers State 2025 budget will now proceed for assent and implementation.

READ ALSO:JUST IN: Seek True Peace To Avoid Impeachment, Rivers APC Tells Fubara

It will be recalled that President Bola Tinubu in May submitted the 2025 Appropriation Bill for Rivers State to the National Assembly for consideration, after the suspension of the state’s House of Assembly.

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In a letter addressed to the Senate President, Goodwill Akpabio, the proposed budget totals N1.481 trillion, with major allocations aimed at revitalizing key sectors.

The president also wrote to the House of Representatives for the Rivers State budget approval, reminding the House that the Supreme Court had nullified the 2025 budget presented by suspended Governor Siminalayi Fubara.

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Kebbi Govt Mulls Death Penalty For Bandit Informants

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Kebbi State Government has said it would review existing laws to impose death penalty or life imprisonment on convicted informants aiding the criminals in the state.

This is coming in the wake of renewed attacks by armed bandits in parts of the state.

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The State Governor, Nasiru Idris made this disclosure on Tuesday, when he paid condolence visits to Tadurga village in Zuru and Kyebu in Danko/Wasagu Local Government Areas, both recently targeted by bandits in attacks that claimed 30 lives.

READ ALSO:Tobacco Kills 1.3 Million Non-smokers Yearly — WHO

The governor, while describing informants as deadly to society, reiterated his administration’s zero-tolerance stance on insecurity and promised to treat the issue with utmost seriousness.

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He expressed sorrow over the tragic loss of lives, praying for the victims and asking Allah to grant the deceased Aljannah Firdausi and a quick recovery to those injured.

“We are here to see things for ourselves, commiserate with you and reassure you of the urgent steps we have taken to improve security,” he said.

READ ALSO:Pastor Enenche Rejects N30m Donation From Kebbi Governor

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The Governor called on the public to refrain from politicizing security issues or spread unverified information on social media, warning that such actions could jeopardise ongoing efforts to restore peace.

Responding, the Chief of Danko, Ibrahim Al’aji, and the Chief of Dabai, Suleiman Sami, appreciated the governor for his swift intervention and called for enhanced security measures, especially along routes used by bandits entering from neighboring states.

The Emir of Zuru, Rtd. Major General Sani Sami also expressed appreciation for the governor’s visit and ongoing commitment to security in the emirate.

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