The National Orientation Agency, NOA is alarmed by the alleged sharp practices regarding the disbursement of the Federal Government Student Loan Fund.
In a statement signed by the
Deputy Director, Communications and Media, Paul Adeniyi, thr Agency has uncovered several unethical practices by some institutions of higher learning.
According to him, the latest report by the Community Orientation and Mobilisation Officers (COMO), of the National Orientation Agency (NOA),shows that schools and banks are conspiring to short-change the students.
The statement disclosed that the Director General of the NOA, Mallam Issa-Onilu announced the findings after meeting with NELFUND Managing Director, Mr. Akintunde Sawyerr, over the weekend.
He stated that the Initial reports indicated that certain university officials have been withholding vital information regarding loan disbursements, prompting immediate action from NELFUND.
Stating further, it added that the NOA’s feedback shows how specific institutions have, in connivance with some banks, deliberately delayed payments to successful student applicants for personal financial benefit.
It disclosed that some universities fail to acknowledge the NELFUND’s disbursements to the students.
Mr. Akintunde Sawyerr confirmed that some institutions are failing to inform students about loan disbursements made in their name while still requiring them to pay tuition fees.
NELFUND, according to the statement is prepared to take legal action against any institution engaged in such deceptive practices.”
To this end , Mallam Issa-Onilu has issued a strong warning to these institutions and collaborating banks to cease such activities. NOA has 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.
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