The Nigerian Education Loan Fund (NELFUND) has dismissed allegations that student loan funds were diverted at the University of Abuja, saying there is no verified evidence to support the claims circulating in parts of the media.
In a statement issued Friday, the Fund said it had taken note of the reports but stressed that no substantiated proof has emerged showing that the University of Abuja misappropriated, diverted or unlawfully withheld disbursements under the student loan scheme.
The statement, signed by NELFUND’s Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, underscored that the agency operates a structured disbursement and reconciliation framework in line with its statutory mandate.
According to NELFUND, loan funds are released strictly through established institutional channels, with compliance safeguards and accountability mechanisms built into the process to ensure transparency.
The agency explained that when issues arise, particularly delays in crediting students’ accounts or reconciling institutional records, it engages directly with the affected institution to address them administratively and in accordance with due process.
“It is important to emphasize that allegations reported in the media do not amount to established findings,” the statement said.
NELFUND noted that it relies on verified documentation, formal reconciliation procedures and audit mechanisms in reviewing any concerns related to its disbursement system.
Reaffirming its commitment to eligible beneficiaries nationwide, the Fund said it remains focused on ensuring that all approved loans are applied strictly in line with the law.
It added that it would continue working with partner institutions across the country to uphold transparency, accountability and the integrity of the student loan programme.
The clarification comes amid heightened public scrutiny of the implementation of the federal government’s student loan scheme, which is aimed at expanding access to higher education financing for Nigerian students.
