The Nigerian Education Loan Fund (NELFUND) has stated that there is no verified evidence to support recent media allegations claiming diversion or misappropriation of student loan funds at the University of Abuja.
In a statement signed by Oseyemi Oluwatuyi, Director of Strategic Communications, the Fund clarified that, as of now, it has not received any documented proof establishing that the University of Abuja diverted, unlawfully withheld, or misapplied NELFUND disbursements.
The agency explained that it operates a structured disbursement and reconciliation framework in line with its statutory mandate. According to the statement, funds are released through established institutional channels, while compliance and accountability mechanisms are embedded within the process to ensure transparency.
NELFUND noted that when concerns arise regarding delays in crediting student accounts or reconciliation procedures at institutional level, the Fund engages directly with the affected institution to clarify issues and resolve them administratively in accordance with due process.
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The Fund 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 any issues related to its disbursement processes.
Reaffirming its commitment to protecting the interests of eligible Nigerian students, NELFUND assured stakeholders that all disbursements under the student loan programme are applied in accordance with the law.
The agency added that it will continue to work collaboratively with partner institutions nationwide to uphold transparency, accountability, and the integrity of the student loan scheme.
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“NELFUND wishes to state clearly that, as of this moment, there is no verified evidence before the Fund establishing that the University of Abuja has diverted, misappropriated, or unlawfully withheld NELFUND disbursements.
“NELFUND operates a structured disbursement and reconciliation framework in line with its statutory mandate. Funds are released through established institutional channels, and compliance mechanisms are in place to ensure accountability and transparency,” the statement read
For further inquiries, the Fund advised members of the public to contact it via email at info@nelf.gov.ng or through its official social media platforms.
