Nigeria, May 1 -- The Independent Corrupt Practices and Other Related Offences Commission (ICPC) said it has commenced a comprehensive investigation into allegations of illegal deductions in disbursements under the students loan scheme.

In a statement posted on its X handle on Thursday, the ICPC said the investigation followed reports that some beneficiary institutions conducted illegal deductions and exploited students of funds related to the student loan.

The ICPC noted that the investigation extends to the Nigerian Education Loan Fund (NELFUND), beneficiary institutions and individual students recipients.

"The ICPC confirmed that a clear case of discrepancies has been established in the administration of the student loan scheme and ...