ICPC Uncovers N71.2 Billion Missing from Federal Student Loan Disbursement

ICPC Uncovers N71.2 Billion Missing from Federal Student Loan Disbursement

A major financial scandal is unfolding as the Independent Corrupt Practices and Other Related Offences Commission (ICPC) reveals that N71.2 billion is missing from the N100 billion released for Nigeria’s student loan program.

According to ICPC spokesperson Demola Bakare, only N28.8 billion of the N100 billion earmarked for students was actually disbursed, raising serious concerns about financial mismanagement. 

The remaining N71.2 billion is unaccounted for, and university managements entrusted with the funds are now under suspicion of diverting the money.