Nigerian Education Loan Fund (NELFUND) has dismissed allegations of diversion or misappropriation of student loan funds at the University of Abuja, stating that there is no verified evidence to support the claims.
In a statement issued in Abuja, the Fund said it operates a structured disbursement and reconciliation framework that ensures transparency and accountability, adding that any concerns raised in media reports are being addressed through established administrative processes and due diligence.
NELFUND wishes to state clearly that, at this moment, there is no verified evidence establishing that the University of Abuja has diverted, misappropriated, or unlawfully withheld NELFUND funds,” she said.
She explained that the Fund operates a structured disbursement and reconciliation framework in line with its statutory mandate, with funds released through established institutional channels and supported by compliance mechanisms to ensure accountability and transparency.
According to her, where concerns arise regarding delays in crediting students’ accounts or reconciliation processes, NELFUND engages directly with the affected institution to resolve such issues administratively and in accordance with due process.
She stressed that media allegations do not constitute established findings, noting that the Fund relies strictly on verified documentation, formal reconciliation procedures, and audit mechanisms in addressing matters relating to its disbursement processes.
Oluwatuyi reaffirmed NELFUND’s commitment to safeguarding the interests of eligible Nigerian students and ensuring that all disbursements are applied lawfully. She also pledged the Fund’s continued collaboration with partner institutions to uphold transparency, accountability, and integrity in the student loan programme.
