Noa discovers the fraud in the student loan program

The National Orientation Agency (Noa) has accused the highest institutions of living with banks to briefly change the students in the provision of the student loan fund of the Federal Government.

The Noa said that its investigations on the provision of the fund have discovered different non -ethical practices by some higher education institutions.

This is contained in a declaration on Sunday by the deputy director, communications and media Noa Paul Odenyi

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

According to the declaration, Mallam Lanre Issa-Sylilu, general manager of Noa, announced the results after the meeting with 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 are unable to recognize the disbursements of in students to students,” he said.

He observed that Mr. 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.

“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”, the declaration reads partly.