By mercy Peter
The National Orientation Agency (NOA), on Sunday said, schools and banks are conspiring to short-change students in NELFUND, NewsSpecng learnt.
This was disclosed in a statement by Paul Odenyi, Deputy Director, Communications and Media.
NOA said the initial reports indicated that certain university officials have been withholding vital information regarding loan disbursements, prompting immediate action from NELFUND.
Mallam Lanre Issa-Onilu, the Director General of the NOA, disclosed the findings after meeting with NELFUND Managing Director, Mr. Akintunde Sawyerr.
He confirmed that some institutions are failing to inform students about loan disbursements made in their name while still requiring them to pay tuition fees.
He said,“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.”
Mallam Issa-Onilu issued a strong warning to these institutions and collaborating banks to cease such activities.
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.
Mr. Sawyerr, also issued a stern warning to institutions that failed to inform students of loan disbursements made on their behalf, while still demanding payment of institutional fees from the same students.
