By Newscount
The National Orientation Agency (NOA) has uncovered a disturbing trend of unethical practices by some tertiary institutions in Nigeria, which are shortchanging students with federal government student loan funds. According to NOA’s latest report, some schools and banks are conspiring to withhold vital information regarding loan disbursements, causing unnecessary confusion and financial hardship for students.
NELFUND Managing Director, Mr. Akintunde Sawyerr, condemned these practices, stating, “Recent findings by NELFUND have shown that some institutions have received student loan disbursements directly into their accounts yet neglect to inform the affected students or record the payments in their financial records, leading to unnecessary confusion. Withholding critical financial information from students is not only unethical but also a breach of the principles on which NELFUND was founded. We are prepared to take legal action against any institution engaged in such deceptive practices.”
NOA Director-General Mallam Lanre Issa-Onilu has issued a strong warning to these institutions and collaborating banks to cease such activities. The NOA has also directed its state directorates to provide further feedback from students across the country to ensure that the Federal Government takes appropriate actions against erring schools and banks.
