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June 3, 2026 - 12:39 PM

₦71.2bn Missing? Nigerian Student Loan Scandal Sparks ICPC Probe, Minister Summons VCs

Hello and welcome! In today’s trending news stories;

1. As controversy grows over the alleged mismanagement of Nigeria’s student loan scheme, Education Minister Dr. Tunji Alausa is meeting today (Tuesday, May 6, 2025) with Vice-Chancellors and heads of tertiary institutions accused of misappropriating disbursed funds. The issue worsened after the ICPC revealed that only ₦28.8bn of the ₦100bn disbursed by NELFUND reached students, sparking a Monday protest by students led by NANS Ogun Chairman Gabriel Abiola. He said, “Many of our students applied for the loan… it has been approved, but it has not been disbursed… We demand the President gear up the ICPC and EFCC to investigate.”

The ICPC has launched a full investigation, though NELFUND CEO Akintunde Sawyerr refuted the allegations: “You have to go through a process that allows us to make sure they are the ones who are actually applying and who actually need it.” Over 576,000 students have registered, seeking a total of ₦170.4bn, yet concerns remain about transparency. Lawmakers are calling for digital reforms, and institutions are urged to raise awareness, especially in the Southeast and South-South.

2. The Federal Government has upgraded 38 technical colleges nationwide as part of reforms to transform Nigeria into a skill-based, knowledge-driven economy, Education Minister Dr. Tunji Alausa announced Monday during the 2025 NESRI stakeholders’ engagement in Abuja.

A key component is a dual-training model where students spend 80% of their time in hands-on practicals and 20% in the classroom, with artisans paid to mentor trainees, creating a new skills-based value chain. “Our goal is to train five million young Nigerians with globally relevant skills within four years,” Alausa said. He also revealed plans to digitize national examinations, with CBT starting for NECO and WAEC by November 2025, and complete digitization, including JAMB, by 2027.

3. Martins Otse, popularly known as VeryDarkMan (VDM), was arrested by the EFCC last Friday and is expected to be released today, according to an EFCC source. His arrest, based on cyberstalking-related allegations, has sparked widespread public outcry and protests in Abuja. The EFCC confirmed it is preparing charges but has yet to arraign him formally. Protests led by youths and social media users condemned the arrest, labeling it “illegal detention” and accusing authorities of abuse of power. Protesters vowed to escalate the matter to the National Human Rights Commission.

Former Vice President Atiku Abubakar described the situation as “a disturbing pattern” under the Tinubu administration: “We must not allow state-sponsored repression to become the defining character of our democracy.” Activist Richard Akinnola criticized the EFCC for detaining VDM for over 24 hours without bail or a court charge: “Even an armed robber is entitled to his rights until found guilty by a court.”

Celebrities, including Davido and Cubana Chief Priest, also joined the call for his release. Davido wrote: “The support I’m seeing for VDM everywhere is encouraging… makes one want to do more for the masses. Free my guy.” Meanwhile, PDP leaders and students blamed the federal government’s silence for fueling unrest, while EFCC insisted charges are being finalized based on multiple petitions.

4. On Monday, May 5, 2025, U.S. President Donald Trump announced plans to help deliver food to starving civilians in Gaza, amid an ongoing Israeli aid blockade. However, he said that Hamas is obstructing efforts, saying, “Hamas is making it impossible because they’re taking everything that’s brought in.” While Israeli officials claim sufficient aid entered Gaza during a six-week ceasefire, data from within the Strip shows a hunger crisis growing worse. International aid groups have rejected a new Israeli aid distribution plan, arguing it fails to address humanitarian needs adequately.

5. Rihanna is pregnant with baby number three! The pop icon and fashion mogul confirmed the news at the 2025 Met Gala in New York, stunning on the red carpet in a navy-and-daffodil-themed ensemble while proudly cradling her baby bump. Partner A$AP Rocky, co-chair of this year’s gala, confirmed the announcement: “I’m glad everybody’s happy for us because we’re definitely happy.”

The couple, who already share two sons, RZA (born May 2022) and Riot (born August 2023), once again made headlines with a stylish reveal at fashion’s biggest night. This year’s Met Gala theme, “Superfine: Tailoring Black Style,” focused exclusively on menswear.

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