The Nigerian Education Loan Fund (NELFUND) has dismissed a viral report suggesting an alleged diversion of student loan funds at the University of Abuja.
In a Friday statement signed by Oseyemi Oluwatuyi, the scheme’s Director of Strategic Communications, NELFUND stated that there is no verified evidence before it establishing that the University of Abuja has diverted, misappropriated, or unlawfully withheld the loan disbursements.
NELFUND clarified that it operates a structured disbursement and reconciliation framework in line with its statutory mandate, stressing that funds are released through established institutional channels, and compliance mechanisms are in place to ensure accountability and transparency.
The statement reads, “Where concerns arise regarding timelines of crediting student accounts or institutional reconciliation processes, NELFUND engages directly with the relevant institution to clarify and resolve such matters administratively and in accordance with due process.
“It is important to emphasize that allegations reported in the media do not constitute established findings. NELFUND remains committed to relying strictly on verified documentation, formal reconciliation procedures, and audit mechanisms in addressing any issues relating to its disbursement processes.”
The statement added, “The Fund reiterates its commitment to protecting the interests of eligible Nigerian students and ensuring that all disbursements are applied in accordance with the law.”
“NELFUND will continue to work collaboratively with all partner institutions to uphold transparency, accountability, and the integrity of the student loan programme,” the statement concluded.
