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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.

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.

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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.

READ ALSO: ICPC Arrests NSCDC Deputy Commandant Over Alleged Corruption

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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.

“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.

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“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.”

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

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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.

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.

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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.

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

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“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.

“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.

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“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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Two Schoolchildren Electrocuted In Anambra During Rainfall

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Tragedy struck in Nnewichi, Nnewi North Local Government Area of Anambra State on Monday when two schoolchildren were electrocuted while taking shelter from the rain at a roadside shop.

The incident, which occurred at St. Peter’s Claver Junction, threw the community into mourning.

Eyewitnesses and CCTV footage revealed that several pupils had gathered at the shop to escape the downpour when the tragedy happened.

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A resident near the scene, who pleaded anonymity, recounted, “Several pupils were taking shelter at the roadside shop during the heavy rainfall. But tragedy struck when the wet bodies of two of the schoolchildren came in contact with a live metal, and they were instantly electrocuted.”

READ ALSO:Four Escape Death As Trucks Collide In Anambra

According to witnesses, panic spread as the children collapsed instantly, while others narrowly escaped.

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The shop owner was said to have not yet opened for business when the incident occurred.

“It took the intervention of some security officers and passers-by, who used protective gloves to evacuate the bodies,” another eyewitness said.

The incident came just days after a similar tragedy in the same Nnewi area, where a woman was swept away by floodwaters in the Uruagu community.

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READ ALSO:Four Escape Death As Trucks Collide In Anambra

When contacted, the Anambra State Police Command spokesperson, SP Tochukwu Ikenga, confirmed the incident, noting that an investigation was underway.

“The facts are not clear yet, but the divisional police officer has been directed to find out the details for a comprehensive report,” Ikenga stated.

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The latest tragedy adds to recent cases of electrocution in the state.

READ ALSO:Four Feared Killed As Gunmen Attack Burial Ceremony In Anambra

In May, a three-year-old girl was killed in Awka after stepping on a live cable belonging to the Enugu Electricity Distribution Company.

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Residents had reportedly alerted officials about the fallen high-tension wire, but it was not repaired until after the fatal incident.

A resident, identified as Uche, said, “The cable fell on Friday and wasn’t fixed until Sunday, after it had electrocuted the girl. The officials even requested ₦30,000 to fix it but didn’t show up until it was too late.”

The repeated incidents have reignited public concern over poor electricity infrastructure and safety negligence in Anambra communities.

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Oyo Orders Traders To Vacate Airport Road In Two Weeks

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The Oyo State Government has issued a two-week ultimatum to traders operating along Airport Road, Old Ife Road, and Onipepeye areas of Ibadan to vacate the roadside or face enforcement action.

The directive was detailed in a Tuesday statement released by the Chief Press Secretary to Governor Seyi Makinde, Dr. Suleimon Olanrewaju.

He warned that the state would no longer tolerate roadside trading or the placement of container shops on drainage.

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READ ALSO:2027: Oyo Gov, Makinde Speaks On Successor

According to the statement, “the government has provided markets and other designated spaces for trading across the city, making it unnecessary and unsafe for traders to occupy roadsides.”

The government said the action was necessary to safeguard lives, prevent environmental hazards, and protect public infrastructure.

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It also warned that trading on walkways and blocking drainage channels increases the risk of flooding and undermines the state’s efforts to promote tourism.

READ ALSO:Former Oyo Police Commissioner Is Dead

The government has a duty to protect citizens from all manner of danger,” the statement said, noting that roadside trading exposes people to serious risks.

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The ultimatum expires on October 27, after which enforcement will begin.

The government said “non-compliance could lead to the confiscation of goods and prosecution of offenders.”

It appealed for cooperation from residents to ensure a cleaner, safer, and more sustainable environment in the state.

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Admissions: Mathematics No Longer Compulsory For Arts Students, Says FG

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Nigerian senior secondary school students in arts and humanities will no longer be required to present a credit in mathematics in their Senior School Certificate Examination, organised by the West African Examination Council and National Examination Council, as a condition for admission to universities and polytechnics, the Federal Ministry of Education said on Tuesday.

For years, admission seekers in arts and humanities, like their contemporaries in sciences and social sciences, have been mandated to have five credits, including mathematics and English language, to secure admission into higher institutions.

“The revised National Guidelines for Entry Requirements into Nigerian Tertiary Institutions are designed to remove barriers while maintaining academic standards.

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“The new framework applies to universities, polytechnics, colleges of education, and Innovation Enterprise Academies across the country as follows:

READ ALSO:FG To Disburse ₦6.3bn Interest-free Loans To 21,000 Flood Victims

Universities: Minimum of five (5) credit passes in relevant subjects, including English Language, obtained in not more than two sittings. Mathematics is mandatory for Science, Technology, and Social Science courses.

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“Polytechnics (ND Level): Minimum of four (4) credit passes in relevant subjects, including English Language for non-science courses and Mathematics for science-related programs.

“Polytechnics (HND Level): Minimum of five (5) credit passes in relevant subjects, including English Language and Mathematics.

“Colleges of Education (NCE Level): Minimum of four (4) credit passes in relevant subjects, with English Language mandatory for Arts and Social Science courses, and Mathematics required for Science, Vocational, and Technical programs,” a statement by the FME’s spokesperson, Folasade Boriowo, said.

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An education analyst, Ayodamola Oluwatoyin, who spoke to our correspondent in Abuja, hailed the reform.

This is a brilliant reform, which we hope will open the doors and improve the ease of admissions into tertiary institutions for more seekers.”

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The Minister of Education, Dr Tunji Alausa, described the reform as a deliberate effort to expand access to tertiary education.

The ministry also approved a comprehensive reform of admission entry requirements into all tertiary institutions across the country, increasing the average annual intake from about 700,000 to one million students.

READ ALSO:Progress Means Food On Tables, Not Statistics, CAN Tells FG

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According to the government, the new policy aims to expand access to higher education and create opportunities for an additional 250,000 to 300,000 admissions each year.

The minister explained that the reform became necessary after years of limited access, which left many qualified candidates unable to secure admission despite meeting the required standards.

“Every year, over two million candidates sit for the Unified Tertiary Matriculation Examination (UTME), yet only about 700,000 gain admission. This imbalance is not due to lack of ability but outdated and overly stringent entry requirements that must give way to fairness and opportunity.

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“The reform is a deliberate effort to expand access to tertiary education, creating opportunities for an additional 250,000 to 300,000 students each year. It reflects our commitment to ensuring that every Nigerian youth has a fair chance to learn, grow, and succeed—putting the Renewed Hope Agenda into action,’’ he said.

The revised National Guidelines for Entry Requirements into Nigerian Tertiary Institutions are designed to remove barriers while maintaining academic standards.

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