Expose: Noa accuses schools, conspiracy banks to short changes on loan

Expose: Noa accuses schools, conspiracy banks to short changes on loan

Abuja (Core reporter) The National Orientation Agency (Noa) has launched the alarm for the alleged conspiracy between some tertiary institutions and banks in Nigeria to short changes

This was contained in a declaration by the deputy director, Communications and Media, Paul Odenyi made available to basic journalists on Sunday 13 April 2025

The Noa declared in the declaration that its recent investigations on the provision of the loan fund of the federal government’s students have discovered different practices not ethical from some higher education institutions.

According to the latest report of the orientation and mobilization of the community (Como), of the National Orientation Agency (Noa), schools and banks are conspiring to change the students shortly.

Mallam Lanre Issa-Sylilu, general manager of Noa, announced the results after meeting the CEO of Nellfund, Akintunde Sawyerr, on the weekend. The initial relationships indicated that some university officials have retained the vital information regarding the provision of the loan, causing immediate action from nelfund.

Noa feedback shows how specific institutions have, in connivance with some banks, deliberately delayed payments to candidates for successful students for personal financial benefit. Some universities do not recognize in the students’ disbursements to students.

However, Mr. Akintunde Sawyerr confirmed that some institutions are unable to inform students about the loan outlay made in their name while requesting them to pay university fees.

He said: “The recent discoveries of Nellfund have shown that some institutions have received loan disbursements for students directly in their accounts, but neglecting to inform the affected students or to record payments in their financial registers, leading to a useless confusion. Converting the critical financial information by students is not only Ethical, but also a violation of the principles not only for the violation.

In response, Mallam Issa-Honilu has issued a strong warning for these institutions and the banks collaborated to cease these activities. Adding that Noa has ordered his state directions to provide further feedback to students from all over the country to ensure that the federal government undertakes appropriate actions against schools and banks in error.