The Nigerian Education Loan Fund (NELFUND) has stated that there is no verified evidence to suggest that the University of Abuja has diverted, misappropriated, or unlawfully withheld funds disbursed under the student loan scheme.
In a statement issued by the Director of Strategic Communications, Mrs Oseyemi Oluwatuyi, the Fund responded to recent media reports alleging the diversion of student loan funds at the University of Abuja.
Oluwatuyi explained that NELFUND operates a clearly defined disbursement and reconciliation system in line with its statutory mandate. She noted that funds are released through established institutional channels, with compliance mechanisms in place to ensure transparency and accountability.
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According to her, where concerns arise regarding delays in crediting students’ accounts or reconciling institutional records, the Fund engages directly with the relevant institution to clarify and resolve such matters through administrative processes and in accordance with due procedure.
“It is important to emphasise 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,” she said.
She reaffirmed the Fund’s commitment to safeguarding the interests of eligible Nigerian students and ensuring that all disbursements are utilised in accordance with the law.
Oluwatuyi added that NELFUND would continue to collaborate with partner institutions to uphold transparency, accountability, and the integrity of the student loan programme.
