Recent reports alleging misappropriation of funds within the Nigeria Education Loan Fund (NELFUND) have been firmly refuted by the agency’s Managing Director and Chief Executive Officer, Akintunde Sawyerr. Speaking on Channels Television’s “Politics Today,” Mr. Sawyerr unequivocally stated that “no money has been stolen” and that NELFUND possesses “a clean bill of health.”

This denial follows reports triggering an investigation by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) into potential diversion of funds by certain institutions participating in the student loan scheme.

Mr. Sawyerr reiterated the purpose of NELFUND as bridging the financial gap for students lacking the means to pursue higher education, emphasizing the Fund’s commitment to accountability and transparency. While acknowledging potential issues related to human intervention in the application process, he maintained that the core funds remain secure and have not been diverted.

A recent World Bank report (April 2025 Poverty and Equity Brief) reveals a concerning trend of escalating poverty in Nigeria, particularly in rural areas. The report indicates that a staggering 75.5% of rural Nigerians live below the poverty line, reflecting the deepening economic hardship within the nation’s hinterlands.

The report highlights several contributing factors, including economic stagnation, high inflation, and pervasive insecurity. These issues are compounded by existing regional disparities, with poverty rates significantly higher in northern geopolitical zones. Furthermore, lack of education and limited access to essential services such as clean water, sanitation, and electricity contribute to widespread multidimensional poverty.

While acknowledging recent economic reforms, the World Bank emphasizes the need for urgent policy interventions to protect vulnerable populations from inflationary pressures and stimulate job creation in more productive sectors of the economy. Failure to address these challenges risks further exacerbating poverty and inequality across Nigeria.

Big Brother Naija (BBNaija) has officially announced the audition dates for its highly anticipated tenth season. Aspiring contestants can register online from May 3rd to May 7th, 2025, for a chance to participate in the reality television phenomenon.

The organizers have stated that successful online applicants will proceed to physical auditions, scheduled to take place in Lagos, Enugu, and Abuja between May 16th and 18th.

Interested individuals aged 21 and above are encouraged to visit the African Magic audition portal at africanmagic.tv/audition to complete the registration process. Applicants will need to provide their personal details, select their preferred audition time and location, and await confirmation.