Expose universities, VCs mismanaging students’ loan, CONUA tells FG

The Congress of University Academics (CONUA) has called on the Federal Government to, without delay, probe all universities and their vice-chancellors who have been accused of mismanaging funds released to them by the Nigerian Education Loan Fund (NELFund) for the benefit of students who keyed into the scheme.

The group also demanded that the identities of such institutions and their leadership be made public and duly sanctioned if found guilty of the allegations.

CONUA, a breakaway group from the Academic Staff Union of Universities (ASUU), raised this concern on Tuesday in a statement signed by its National President, Dr. Niyi Sunmonu, and made available to the Nigerian Tribune.

According to CONUA, “We are deeply concerned that some institutions allegedly denied receiving funds disbursed to them by NELFund on behalf of their students, while others reportedly deposited the funds in interest-yielding bank accounts—actions that contravene the rules governing the use of the funds.”

The group noted that such conduct is not only fraudulent but a deliberate attempt to subvert a noble scheme designed to promote access to higher education and ease the financial burden on struggling students and their families.

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“That is why, to us,” the group added, “it is disheartening that while the government is attempting to improve equity and access in education, some academic managers are reportedly undermining these efforts for personal gain.”

“We therefore strongly believe that these allegations must not be swept under the carpet. It is disappointing that the government has yet to publicly name and shame the institutions and individuals involved,” CONUA stated.

The union further noted: “In a country where impunity continues to undermine national development, exposing wrongdoing serves both as a deterrent to potential offenders and as necessary punishment for those already complicit.

“Even more disheartening is the fact that such acts are being perpetrated within the walls of our higher institutions, which should represent integrity, character-building, and national service.

“The notion that academic administrators—those charged with shaping the minds and morals of future leaders—are allegedly involved in financial misconduct is an indictment of the state of ethics in our institutions.”

To address the issue effectively before it spirals out of control, the union called for an immediate independent probe of all implicated institutions and individuals. It urged anti-graft agencies such as the Economic and Financial Crimes Commission (EFCC) to take up the matter and ensure that those found culpable—whether institutions or individuals—are exposed and punished.

“It is also important to establish oversight mechanisms involving monitoring teams comprising relevant stakeholders within the system to track the disbursement and utilization of student loans across various universities.

“Students must also be educated about their rights regarding the loan scheme and protected from financial extortion by their schools. Ethical reorientation is equally required to ensure that university leadership in Nigeria is transparent and accountable.”

CONUA, however, pledged its continued commitment to promoting integrity, equity, and justice in Nigeria’s public university system, arguing that this is the only path to true national prosperity.