The Nigerian Education Loan Fund (NELFUND) has debunked allegations of diversion of student loan funds at the University of Abuja.
In a statement issued by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications, the Fund said there is currently no verified evidence before it establishing that the University of Abuja has diverted, misappropriated, or unlawfully withheld NELFUND disbursements.
According to the statement, NELFUND operates a structured disbursement and reconciliation framework in line with its statutory mandate. It explained that funds are released through established institutional channels, with compliance mechanisms in place to ensure accountability and transparency.
The Fund noted that where concerns arise regarding delays in crediting students’ accounts or institutional reconciliation processes, it engages directly with the relevant institution to clarify and resolve such matters administratively and in accordance with due process.
NELFUND emphasized that allegations reported in the media do not amount to established findings, stressing that it relies strictly on verified documentation, formal reconciliation procedures, and audit mechanisms in addressing issues related to its disbursement processes.
The agency reiterated its commitment to protecting the interests of eligible Nigerian students and ensuring that all disbursements are applied in accordance with the law.
It added that it will continue to work collaboratively with partner institutions to uphold transparency, accountability, and the integrity of the student loan programme.
