News
Only N44.2bn disbursed from N203.8bn student loan fund – ICPC probes schools
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.
News
PRESIDENT TINUBU’S TRIBUTE TO CENTENARIAN ALHAJI TANKO YAKASAI
Of the noble men and women who stood firm for our liberty and freedom from repressive colonial subjugation, Alhaji Tanko Yakasai is the last man standing. Born a hundred years ago in Kano City, Alhaji Yakasai exemplifies a purposeful life, carving out a meaningful legacy despite humble beginnings.
Disturbed by the injustice and maltreatment he witnessed under colonial rule, he chose to join the fight for Nigeria’s liberation. As a young man, Baba Yakasai channelled his energy into the struggle for the emancipation of his people and the rest of the country as a freedom fighter, journalist, and frontline political activist.
His activism led him to join hands with comrades in the Northern Elements Progressive Union (NEPU), led by the visionary radical Mallam Aminu Kano. Through NEPU, Yakasai and his co-travellers launched a massive awakening campaign in Northern Nigeria, igniting the fire for the Independence struggle.
In the aftermath of Nigeria’s Independence in 1960, Yakasai maintained an abiding faith in the country and its development. He played several significant roles, including serving as State Commissioner in Kano under Military Governor Audu Bako and as Special Assistant on National Assembly Liaison to President Shehu Shagari during the Second Republic.
In both youth and old age, Yakasai remains a shining example of commitment to Nigeria. He is a consensus builder who consistently weighs in on the side of national cohesion, peaceful coexistence, and democratic consolidation.
In celebrating Baba Yakasai today, I am not only celebrating the man and his personal achievements, but also a century of dedicated service to freedom and democracy and many years of supporting me and the progressive cause.
I am pleased to join family, friends and associates to celebrate the life and commitment of Alhaji Tanko Yakasai as he turns 100 on December 5.
President Bola Ahmed Tinubu, GCFR
President and Commander-in-Chief
Federal Republic of Nigeria
December 4, 2025
Business
Boris Johnson Says He Feels “Perfectly Safe” in Nigeria, Praises Imo State’s Progress
Former British Prime Minister Boris Johnson has expressed confidence in Nigeria’s security, saying he feels perfectly safe during his visit to the country. His remarks come amid ongoing reports of insecurity in various parts of Nigeria, making his statement a notable endorsement of the nation’s stability in certain regions.
Johnson made the declaration on Thursday, December 4, 2025, while addressing participants at the Imo State Economic Summit 2025 in Owerri, the state capital. He acknowledged having read travel advisories and news reports highlighting security concerns prior to his trip but said his experience has been reassuring.
He said he feels perfectly safe in the country and emphasized that the summit environment and local hospitality contributed to his sense of security. He also asked the audience if they felt safe, receiving an enthusiastic affirmation.
During his visit, Johnson commended Governor Hope Uzodimma and the Imo State Government for their development initiatives, particularly efforts to provide 24-hour electricity. He highlighted the potential of Nigeria as a hub for innovation and economic growth, noting the opportunities presented by emerging technologies such as artificial intelligence.
While his statements have been welcomed by some as a boost to international confidence in Nigeria, analysts caution that the former prime minister’s experience reflects only a controlled and secure environment within Imo State. Several parts of the country continue to face challenges, including banditry, communal conflicts, and kidnappings.
Nonetheless, Johnson’s visit and remarks are significant, sending a positive message to investors and global observers about Nigeria’s potential for stability and progress. They also underscore the contrast between localized experiences of safety and broader security challenges across the country.
Business
Dangote to Uzodimma: Just show me where to invest
By Emmanuel Iheaka, OWERRI
The President of Dangote Group, Aliko Dangote has assured Governor Hope Uzodimma of Imo State that his group will be one of the biggest investors in the state.
Dangote gave the assurance at the opening session of the Imo Economic Summit 2025 in Owerri on Thursday.
The renowned Africa’s industrialist urged Uzodimma to indicate his preferred area of investment and forget the rest.
Dangote described the Imo governor as a personal friend of decades and commended him for providing enabling environment for investment.
“We will be one of your biggest investors in Imo. So, please tell me the area to invest and we will invest”, Dangote declared.
He called on entrepreneurs to always invest at home, adding that foreigners cannot drive the economy of any nation more than the nationals.
“What attracts foreign investors is a domestic investor. Africa has about 30 percent of the world’s minerals. We are blessed,” he submitted.
Dangote reiterated that his refinery was set to launch 1.4 million barrels per day capacity, the highest for any single refinery in the world.
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GOVERNOR FUBARA APPOINTS COUNCIL MEMBERS FOR KEN SARO-WIWA POLYTECHNIC BORI
