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Only N44.2bn disbursed from N203.8bn student loan fund – ICPC probes schools

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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered major discrepancies in the administration of the Nigeria Education Loan Fund (NELFUND), revealing that only ₦44.2 billion of the ₦203.8 billion allocated for student loans has so far been disbursed.

This was contained in a statement signed by Demola Bakare,
Spokesperson for the Commission on Thursday.

According to the statement, the Commission confirmed it has launched a comprehensive investigation into the disbursement process, following media reports that 51 tertiary institutions were implicated in unauthorized deductions and exploitation of students.

The ICPC noted that some institutions were allegedly deducting between ₦3,500 and ₦30,000 from students’ institutional fees funded through the NELFUND scheme.

According to the Commission, preliminary findings showed that while the Federal Government allocated ₦100 billion for the programme, only ₦28.8 billion was initially disbursed, raising concerns about a missing ₦71.2 billion.

However, upon further investigation, the ICPC revealed that the total amount received by NELFUND as of March 19, 2023, was actually ₦203.8 billion.

“The breakdown showed that ₦10 billion was from the Federation Allocation Account Committee (FAAC), ₦50 billion came from the Economic and Financial Crimes Commission (EFCC), ₦71.9 billion was from the Tertiary Education Trust Fund (TETFund), and another ₦71.9 billion was also from TETFund,” the Commission said.

Out of this amount, only ₦44.2 billion has been disbursed to date, benefiting 293,178 students across 299 tertiary institutions.

“A clear case of discrepancies has been established in the administration of the student loan scheme,” the statement read.

The Commission confirmed that its Chairman’s Special Task Force had dispatched letters of investigation to several stakeholders, including the Director General of the Budget Office, the Accountant General of the Federation, and senior officials of the Central Bank of Nigeria. It also invited the Chief Executive Officer and Executive Director of NELFUND to provide documentation.

“The responses received were critically analyzed, and interviews were conducted with the concerned individuals,” the ICPC added.

It stated that the probe has now been expanded to cover both beneficiary institutions and individual student recipients to determine the full extent of the anomalies.

The statement further stated that further updates will be provided as the investigation progresses.

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Edo: I paid N6.5 million ransom to regain freedom – Kidnapped Imam debunks police claims

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Sheik Muhammad Murtadha Obhakhobo, the Chief Imam of Uromi Central Mosque has debunked the claims by the Edo State Police Command that he was released by his abductors due to the intense and sustained pressure mounted on them by its operatives.

Ekwutosblog recalls that the Chief Imam was kidnapped July 7, 2025 shortly after observing one of the Muslim obligatory prayers at about 2 pm.

The Chief Imam is also the President, Muslim Students Society of Nigeria, MSSN, Edo-Delta Chapter.

He was kidnapped at the Angle 80 area of Uromi in Esan North-East Local Government Area of the state.

He was reported to have been forcefully taken away by gunmen when he stepped out to buy food for his family near his residence shortly after the prayer.

It was also gathered that the kidnappers demanded a ransom of N30 million from his family for his release.

However, the Edo State Police Command in a statement made available to newsmen on Monday, July 14, 2025, said the Cleric has been released due to intense and sustained pressure by operatives of the Command.

A statement by the spokesperson of the Command, Moses Yamu, said the Commissioner of Police in the State, Monday Agbonika, commended the efforts of the operatives involved in the operation.

He said the commissioner assured the public that no stone would be left unturned in identifying and apprehending those behind the kidnapping.

“The Edo State Police Command is pleased to inform the public that Moritada Obhakhoboh the Chief Imam of Uromi was released by his abductors on 13th July 2025 due to the intense and sustained pressure mounted by our operatives.

“He has since been reunited with his family and is in stable condition.

“The kidnapping occurred on 7th July 2025 at the Angle 80 area of Uromi and was reported to the Uromi Divisional Police Headquarters on 8th July 2025.

“Upon receipt of the report, the Command immediately launched a robust manhunt for the perpetrators, deploying tactical teams and collaborating with local vigilantes to track down the assailants with a view to rescuing the victim unhurt and bringing the culprits to justice”, Yamu stated.

Reacting,  the Chief Imam said there was no iota of truth in the claim by the Police, saying that he paid N6.5million ransom to his abductors.

Obhakhobo said he regained freedom by paying ransom and not through the efforts and intervention of the police.

The Cleric, who spoke in his hometown, said he was abducted along the Ubiaja-Illushi road of the State.

“I was kidnapped on July 7, 2025 along the Ubiaja-Illushi road. I got myself released with the payment of N6.5 million on July 13, 2025.

“I’m also shocked to see a different person’s picture in one of the papers claiming it was me.

“On getting home upon my release, the Divisional Police Officer (DPO) of Uromi Division visited me to gather information, which I provided.

“My release was a result of private efforts and the payment of a substantial ransom”, he said.

He, however, expressed dismay that the police are taking credit for what they did not do.

“I just got information on the newspapers where the police are trying to take credit for doing nothing”, he added.

The Imam, however, expressed appreciation to all those that prayed for his safety and release, as well as showed concerns during the period.

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BREAKING: Court clears Ayo Fayose of all money laundering charges

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A Federal High Court in Lagos has discharged and acquitted former Ekiti State Governor, Ayodele Fayose, of all charges in the long-running N2.2 billion money laundering case filed against him by the Economic and Financial Crimes Commission, EFCC.

In a ruling delivered Tuesday morning, the court upheld Fayose’s no-case submission, declaring that the EFCC had failed to establish a prima facie case warranting him to enter a defence.

Fayose had faced trial for several years over allegations of money laundering and financial misappropriation during his time as governor of Ekiti State. However, the court found the prosecution’s case to be lacking in credible evidence.

“The prosecution failed to link the defendant to the alleged crimes in a manner that warrants this court to call upon him to open his defence,” the court ruled.

Earlier in the proceedings, the court had also granted Fayose leave to travel abroad for medical treatment, following a separate application.

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Plateau Speaker leads members to visit attacked Riyom community

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Speaker of the Plateau State House of Assembly, Rt. Hon. Naanlong Daniel Gapyil, on Tuesday, led principal members of the House to visit the Jebbu Binde village of Ta-Hoss District in Riyom Local Government Area of Plateau State, which was attacked by Fulani militia on Monday night.

Gapyil, who spoke to journalists during the visit, said the House decided to embark on the visit to condole with the people as well as have an on-the-spot assessment of the situation on ground.

The Speaker said the Assembly will collaborate with the state government to bring to an end the incessant killings of defenceless and innocent citizens in the state.

While being conducted round the scene of the attack, Gapyil, who expressed shock at the level of destruction carried out by the assailants, expressed his sadness at what he described as an “unfortunate recurring incident” and promised that the government is making efforts to nib the issue of insecurity in the bud.

A statement issued by the media team of the House said the Speaker and members on arrival, met with the former Senate Minority Leader, Senator Simon Mwadkwon, local government officials and former Chairman of Riyom LGA, Mafeng Gwalson, and other stakeholders, community and youths leaders,
who conducted them round the scene of the attack.

“The Speaker, who condemned the attack, assured the communities that the Plateau State House of Assembly has resolved to collaborate with the executive and other relevant agencies to bring perpetrators of the attack to justice,” the statement read in part.

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