A former chairman, House of Representatives Ad-hoc Committee on Students Loans, Hon. Terseer Ugbor, has demanded transparency in the management and disbursement of loans to students of tertiary institutions in the country.
The lawmaker who stated this in an interview during a visit to his constituency office, warned the Nigerian Education Loan Fund (NELFUND) to beware of politicising management of the fund, including the selection of vendors and recruitment of staff.
Ugbor said up to this moment he was unable to ascertain how many students from Benue State had received the loans because there were no public record of the actual number disbursed to, amount of money spent, duration of the loans, repayment plans, number of participating institutions and the insurance policy covering the loans.
He queried how loans are disbursed without a credit life insurance and health insurance for the students and wondered how the funds would be recovered in case of death, disability or default.
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