Lawmaker cautions against politicising students’ loan scheme

Rep. Terseer Ugbor (APC-Benue) has warned against politicising the disbursement of loans to students of tertiary institutions in the country.

Ugbor, who represents Kwande/Ushongo Federal Constituency of Benue, in a statement on Friday, demanded openness and transparency in the management and disbursement of loans to students.

He also cautioned the Nigerian Education Loan Fund (NELFUND) to be wary of political interests in the management of the fund, including the selection of vendors and the recruitment of staff.

Ugbor, who was a former Chairman of the House of Representatives Adhoc Committee on Student Loans, said that there must be equity, transparency, and accountability in the scheme.

Thelawmaker alleged that there were no public records on the actual number of loans so far disbursed.

According to him, there are no adequate records of the amount of money spent, the duration of loans, repayment plans, the number of participating institutions, or the insurance policy covering these loans.

He explained that he was unable to tell how many students of Benue origin have received the loans as a result of a lack of public records.

He queried loan disbursements without credit life insurance and health insurance for the students, questioning the recovery method in cases of death, disability, or default.

Ugbor called for more transparency in the management of the students’ loans as one of President Bola Tinubu’s legacy initiatives.