The Students’ Union Government (SUG) of D.S. Adegbenro ICT Polytechnic has announced the suspension of all activities related to the Nigerian Education Loan Fund (NELFund) payments, citing alleged irregularities and unauthorized fee increments.
In a statement issued on April 13, 2026, the union accused the institution’s management of imposing additional charges on students benefiting from the Nigerian Education Loan Fund without prior notice or approval.
The SUG alleged that the school recently increased fees on the NELFund portal from ₦198,000 to ₦330,000 and above, describing the move as “fraudulent and unacceptable.”
According to the union, students were neither informed nor consulted before the adjustment, raising concerns about transparency and accountability in the handling of the loan scheme.
The union further claimed that some students were misled into accepting loan terms that included additional charges not originally disclosed, alleging that such actions were aimed at benefiting the institution’s management.
It maintained that all students, regardless of whether they are NELFund beneficiaries or not, should pay the same approved fees, without any extra charges for services such as health insurance, life insurance or Wi-Fi.
The SUG directed students to halt submission of bank account details for NELFund disbursements until the issues are resolved, insisting that beneficiaries must receive the full amount disbursed as reflected on their NELFund portal.
It also urged students to reject and return any health insurance cards issued under what it described as a “fraudulent arrangement.”
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The union called on the Federal Government and relevant anti-corruption agencies to investigate the matter, warning against actions that could undermine the objectives of the student loan programme.
SUG President, Okunnuga Opeyemi, who signed the statement, said further actions would be communicated to students in due course.
The union reaffirmed its commitment to protecting students’ interests, declaring that it would not tolerate any form of exploitation or financial misconduct within the institution.
