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₦71.2bn Missing In Student Loan Disbursement – ICPC

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FG Invites ICPC Over Diversion Of N-power Funds Independent Corrupt Practices and Other Related Offences Commission

Commission Probes NELFUND, 51 Institutions Over Alleged Irregularities

 

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has initiated a sweeping investigation into alleged irregularities surrounding the Nigeria Education Loan Fund (NELFUND), uncovering a major shortfall in the distribution of federal student loan funds.

Despite a ₦100 billion allocation by the Federal Government for student loans, only ₦28.8 billion was reportedly received by students in tertiary institutions, sparking concerns over the whereabouts of the remaining ₦71.2 billion.

READ MORE: NANS Urges FG To Slash Education Costs Instead Of Offering Student Loans

This revelation came through a statement issued on Thursday, May 1, 2025, by ICPC spokesperson Demola Bakare.

Media reports had earlier alleged that 51 tertiary institutions were engaged in exploitative practices, deducting between ₦3,500 and ₦30,000 from students’ loan-funded institutional fees without proper authorization. These claims prompted the ICPC to act swiftly.

To unravel the discrepancies, the commission’s Chairman’s Special Task Force launched a full-scale probe and contacted key government officials.

“Letters of investigation and invitations were dispatched to key stakeholders, including the Director General of the Budget Office, the Accountant General of the Federation, and senior officials from the Central Bank of Nigeria,” the statement read.

The Chief Executive Officer and Executive Director of NELFUND were also summoned to submit documents and provide detailed explanations.

According to Bakare, “The responses received were critically analyzed, and interviews were conducted with the concerned individuals.”

Further digging by the commission revealed that as of March 19, 2024, NELFUND had actually received ₦203.8 billion from multiple sources.

This included ₦10 billion from the Federation Allocation Account Committee, ₦50 billion from the Economic and Financial Crimes Commission (EFCC), and ₦143.8 billion from the Tertiary Education Trust Fund (TETFund)—split into two ₦71.9 billion tranches.

However, only ₦44.2 billion has been disbursed to 299 institutions, benefiting 293,178 students—far below expectations given the total amount available.

The ICPC confirmed that “discrepancies in the administration of the student loan scheme have been established,” adding that the scope of the investigation will now widen to include both the institutions that received the funds and the students who benefitted.

“Further updates will be provided as the investigation progresses,” the statement concluded.

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Ekiti Attack: Sowore Tracks Stolen Phones Near Governor’s Office, Demands CCTV Footage

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The presidential candidate of the African Action Congress (AAC), Omoyele Sowore, has disclosed that two mobile phones allegedly stolen from members of his team during Friday’s attack in Ado-Ekiti have been traced to locations near the Ekiti State Governor’s Office and Fajuyi Park.

Sowore made the disclosure in a post on X on Sunday, November 1, 2026, while renewing his demand for the release of CCTV footage from Tawakalitu Restaurant, where he and members of his team were attacked on October 30.

According to him, one of the stolen devices was traced to a location directly opposite the office of Governor Biodun Oyebanji, while another was located opposite Fajuyi Park in Ado-Ekiti.

RELATED NEWS: Ekiti Attack: Sowore Demands CCTV Release, Questions Gov’t Ties to Gang Leader

Describing the discoveries as disturbing, Sowore questioned why the Nigeria Police Force and the Department of State Services (DSS) had yet to release the CCTV footage allegedly seized from the restaurant.

“This morning, we tracked two of the devices violently robbed from members of our team during the brutal attack in Ado-Ekiti on Friday, October 30, 2026, and the locations are deeply disturbing,” he wrote.

“One phone was traced to a location directly opposite the office of the Executive Governor of Ekiti State, while our other devices were located opposite Fajuyi Park in Ado-Ekiti,” he added.

The activist subsequently renewed his demand for the release of the surveillance footage, insisting that the recordings from the restaurant should be made public.

“Meanwhile, the Nigeria Police Force and the DSS have yet to release the CCTV footage seized from Tawakalitu Restaurant, where we were attacked.

“RELEASE THE CCTV FOOTAGE NOW!” he demanded.

The latest disclosure follows an attack on Sowore and members of his entourage at Tawakalitu Restaurant in Ado-Ekiti on Friday, shortly after the activist participated in a radio interview in the state.

Sowore had alleged that armed men attacked his team, assaulted some members and dispossessed them of their personal belongings, including mobile phones.

The incident generated controversy after the Ekiti State Police Command initially described it as an altercation involving Sowore and some individuals, while the activist maintained that his team was violently attacked.

The police subsequently announced the arrest of 11 suspects in connection with the incident.

According to the police, operatives of the Rapid Response Squad arrested the suspects at their hideouts in the Atikankan area of Ado-Ekiti at about 10 p.m. on October 30.

Items reportedly recovered during the operation included 13 mobile phones, two walkie-talkies, seven ATM cards, eight international passports, vehicle keys and other belongings.

The police said investigations were ongoing to establish the roles of the suspects and determine their possible involvement in the incident.

Sowore’s latest disclosure has renewed calls for the release of the restaurant’s CCTV footage, which he believes could provide further evidence about the circumstances surrounding the attack.

 

 

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NAF Tests 816 Recruits’ Combat Readiness in Kaduna Bush Camp Exercise

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Insecurity: NAF Restrategises with New Appointments, Deployments

The Nigerian Air Force (NAF) has tested the physical endurance, tactical awareness and military preparedness of 816 newly recruited personnel during an intensive six-day bush camp exercise in Kaduna.

The exercise, codenamed Exercise MUN FARA, was conducted from October 12 to 17, 2026, at the NAF Base Kaduna for trainees of Basic Military Training Course (BMTC) 46/2025.

The training featured demanding military activities, including day and night navigation, patrols, ambushes, attack drills and tent pitching, designed to prepare the recruits for operations under challenging field conditions.

SEE ALSO: Atiku Mourns 25 Killed in NAF Aircraft Crash in Ondo

The exercise culminated in a gruelling 20-kilometre cross-country competition, with Alpha-Jet Squadron emerging overall winner after completing the race in two hours, 33 minutes and seven seconds.

Recruit Mohammed U of MI-35 Squadron finished first in the male category, while Recruit Salihu SO of ATR-42 Squadron emerged winner in the female category.

Commending the recruits for their resilience, discipline and team spirit, the MTC Commandant, Air Commodore AO Akins, said the exercise provided an opportunity to assess their practical application of essential military skills.

He noted that the training tested their knowledge and abilities in fieldcraft, weapon handling and map reading, alongside their capacity to work effectively as a team.

The Air Force said the exercise formed part of its progressive training programme aimed at developing disciplined, confident and mission-ready personnel.

The recruits are expected to proceed to their final bush camp training before completing their military training and commencing service in the Nigerian Air Force.

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Ekiti Attack: Sowore Demands CCTV Release, Questions Gov’t Ties to Gang Leader

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Arrest Buhari Too, Sowore Reacts To Emefiele's Arrest

Presidential candidate of the African Action Congress (AAC), Omoyele Sowore, has demanded the release of CCTV footage showing the attack on him and members of his team in Ado-Ekiti, while questioning the alleged relationship between the Ekiti State Government and a suspected gang leader.

Sowore made the demands in a post on X on Sunday, November 1, 2026, while responding to the Ekiti State Government’s October 31 press release on the October 30 attack.

SEE ALSO: Atiku Raises Alarm Over Attacks on Sowore, ADC Governorship Candidate, Accuses APC of Intimidation

He also challenged Governor Biodun Oyebanji to explain an alleged warning issued by his Chief Security Officer, CSP Ayodele Akinlua, hours before the incident.

According to Sowore, Akinlua contacted a member of his team, Moyinoluwa Olowoyo, popularly known as Gigabytes, at approximately 7:30 a.m. on the day of the attack and warned that his safety could not be guaranteed if he proceeded with political activities in the state.

Sowore alleged that more than 100 armed thugs subsequently attacked him and members of his team in broad daylight, leaving several people injured and robbed.

Questioning the circumstances surrounding the warning, he asked:

“Why was the Governor’s Chief Security Officer warning that my safety could not be guaranteed hours before armed thugs descended on us? Who authorized that call? What did the Governor know, and when did he know it?”

The AAC presidential candidate accused the state government of failing to address the circumstances surrounding the attack, arguing that its response focused on questioning his motives rather than condemning the violence.

He also faulted the government’s description of the incident as an ordinary altercation, insisting that the attack involved armed political thugs.

Sowore further questioned the alleged relationship between the Ekiti State Government and Sola Adenijo, popularly known as Solar, whom he identified as the leader of the gang that attacked him and his team.

He alleged that Adenijo was on the state government’s payroll and challenged Governor Oyebanji to disclose whether the individual received payments, contracts, appointments, stipends or other financial benefits from the government, directly or indirectly.

“We challenge Governor Oyebanji and his government to publicly disclose whether Sola Adenijo receives payments, contracts, appointments, stipends, or any other financial benefits from the state government, directly or indirectly,” he stated.

Sowore maintained that a general denial of involvement by the government was insufficient without addressing the specific allegations.

He also demanded the immediate preservation, recovery and public release of CCTV recordings from the restaurant where the incident occurred and surrounding premises.

The activist urged the relevant authorities to secure the complete recordings, preserve the original files and release the footage without alteration, while protecting innocent bystanders.

“Let Nigerians see what happened. Let the footage establish whether this was the so-called ‘altercation’ being promoted by the Police and the State Government or a coordinated attack by armed political thugs,” he said.

Sowore further alleged that security operatives had attempted to remove CCTV recordings and demanded an explanation regarding who took possession of the footage, where it was being kept and why it had not been made public.

He also questioned the activities of security agencies before the attack, alleging that Department of State Services (DSS) operatives had disrupted his political meeting at a restaurant.

According to him, members of his team and security personnel attached to them were assaulted, with some security personnel allegedly disarmed during the incident.

Sowore also referenced a statement by MKD Araoye, lead organiser of the Ikogosi Marathon, announcing a ban on his participation in the event. He alleged that the development further raised questions about possible official involvement in the incident.

The AAC presidential candidate called for an independent and transparent investigation into the roles of the attackers, their alleged sponsors, the governor’s security personnel, the DSS and any police or DSS officers implicated in the incident.

He maintained that the investigation should examine eyewitness accounts, communication records, financial records and CCTV footage.

“The Ekiti State Government cannot investigate itself through press releases, insult the victims into silence, or manufacture an alternative account of an attack that left people injured,” he said.

Sowore insisted that the incident would not deter him from exercising his constitutional rights or participating in political activities.

He also challenged Governor Oyebanji to release the CCTV footage, explain the alleged warning from his Chief Security Officer and disclose the government’s relationship, if any, with Adenijo.

 

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