The University of Uyo, a federal government-owned university in Akwa Ibom State, has become the first campus where the Federal Government’s new loan scheme for indigent students is being twisted into a money-making scam.
At the centre of the storm is Vice Chancellor Prof. Nyaudoh Ndaeyo, accused by staff, students, and academics of sabotaging the Nigerian Education Loan Fund (NELFund) and weaponizing poverty for profit.
How the Loan Works
Under President Bola Ahmed Tinubu’s policy, each beneficiary should receive ₦284,100:
₦44,100, for institutional fees, and ₦240,000, for upkeep
The design is simple: government pays so that poor students won’t drop out.
How Uniuyo Twists It
Inside Uniuyo, the VC has allegedly flipped the scheme on its head. Beneficiaries are being told to pay fees first pending when the Federal Government will release the money (loan). Refunds, staff say, could take “months or years—if they ever come at all.”
To make matters worse, NELFund students are being charged higher fees than their classmates. Documents and testimonies show that final year students in the Faculty of Arts are made to pay an extra ₦20,000 ‘development levy’ and ₦30,000 ‘professional accreditation fee’ imposed only on NELFund beneficiaries. That’s a shocking ₦50,000 illegal surcharge—punishing the very students government is trying to help.
Staff Blow the Whistle
A Registry officer said bluntly:
“The Federal Government created NELFund to ease students’ burden. But the VC has turned it upside down. He is using it to raise money.”
A top Bursary official added:
“Prof. Ndaeyo knows refunds hardly work here. He wants students to pay first, knowing many will never get their money back. This is deliberate monetization of education.”
“Cruel Irony”
Lecturers are furious. A senior academic in the Faculty of Arts called it a cruel irony:
“Poor students are paying more than the rich. This is wickedness. It shows the VC loves money more than humanity.”
Others point to a disturbing pattern under Ndaeyo—skyrocketing acceptance fees, inflated transcript costs, and endless hidden charges.
“Every policy he introduces is about extracting money. NELFund is just the latest victim,” said a professor in Engineering.
Students Cry Out
For students, the betrayal cuts deepest.
“If I had money, why would I apply for a loan?” asked a Political Science student. “They are using our suffering to make money for themselves. This is exploitation.”
Bigger Question
Why would a Vice Chancellor sabotage a Federal Government program meant to help the poor? Insiders say it’s either an obsession with internally generated revenue—or plain greed.
Either way, the consequences are devastating: poor students are being pushed out while Uniuyo’s coffers grow fat.
Time for Action
As one Education professor warned:
“We cannot allow one man’s greed to mortgage the future of our children. Universities should be centres of hope, not dens of extortion.”
With ₦284,100 per student at stake, attention now shifts to the Ministry of Education and the Presidency. Will they act to protect indigent students—or let Uniuyo’s Vice Chancellor turn a national lifeline into an extortion racket?
