ABUJA, NIGERIA — The President of the National Association of Nigerian Students (NANS) has exposed a massive fraud scheme within the federal student loan disbursement platform, naming a prominent institutional head as a primary suspect. In a highly explosive briefing, the student apex body directly accused Dr. Rauf Adegoke, the Rector of D.S. Adegbenro ICT Polytechnic, Itori, Ogun State, of deliberately altering and inflating statutory school fees on the Nigerian Education Loan Fund (NELFUND) portal.
Loading ...The student leadership revealed that the institution’s management methodically manipulated data entry templates to double the official fees of unsuspecting students—a coordinated move designed to siphon millions of Naira from President Bola Ahmed Tinubu’s flagship social welfare intervention fund.
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| NELFUND AUDIT EXPOSURE: ADÈGBENRO POLY |
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| Accused Official | Dr. Rauf Adegoke (Rector, D.S. Adegbenro) |
| Primary Whistle | National Association of Nigerian Students |
| Core Offence | Systematic inflation of school fee portals |
| System Target | Nigerian Education Loan Fund (NELFUND) |
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The Inflated Figures Exposed by Student Leadership
Providing definitive, document-backed data to the public, the NANS President broke down the exact financial discrepancies uncovered by student auditors tracking the federal disbursements. The fraudulent variations uploaded by the school management to the NELFUND portal include:
- Higher National Diploma (HND I): While the institution’s official, approved handbook charges students ₦236,000, the management allegedly uploaded an inflated figure of ₦350,000 onto the NELFUND loan portal—creating a fraudulent excess of ₦114,000 per student.
- National Diploma (ND II): The approved fee for returning lower-tier students is legally set at ₦152,000, yet the school administration uploaded a staggering ₦330,000 onto the portal—inflating the debt profile of each applying student by an extra ₦178,000.
NANS stressed that this criminal data entry means the federal government is being heavily overbilled, while poor Nigerian students are being forced to carry completely fictitious loan repayment burdens into their post-graduation years.
A Coordinated Attack on Tinubu’s Student Loan Scheme
The leadership of NANS has labeled the discovery as a direct, treasonous sabotage of President Tinubu’s primary youth empowerment policy. The student body noted that while the federal government is working hard to ease the financial burdens of higher education amid a severe national cost-of-living crisis, corrupt institutional administrators are actively weaponising the portal to enrich themselves.
“This is not a mistake; it is a calculated, systematic scheme to defraud the federal government and ruin the financial future of Nigerian students,” the NANS President declared. The student apex body warned that if the NELFUND board relies completely on unverified numbers uploaded by greedy institutional heads, the entire multi-billion Naira loan pool will be completely drained by administrative cartels within months.
Growing Demands for Immediate Arrest and Forensic Audits
The exposure has triggered intense anger across the academic community in Ogun State and the wider federation. NANS has issued a strict 48-hour ultimatum to the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to arrest Dr. Rauf Adegoke and freeze the institution’s financial processing channels.
The student association further demanded that the management of NELFUND immediately suspend all loan allocations to D.S. Adegbenro ICT Polytechnic until a comprehensive forensic audit is conducted. NANS has ordered its regional chapters to launch independent tracking units across all federal and state tertiary campuses to verify if other institutions are utilizing this identical scheme to inflate their student fee portals.
