The Nigerian Education Loan Fund (NELFUND) has dismissed reports alleging the diversion of student loan disbursements at the University of Abuja, stating that no verified evidence has been presented to substantiate the claims.
In a statement issued on Thursday, the Fund said it had taken note of recent media publications suggesting that loan funds meant for students of the institution were diverted or unlawfully withheld. However, it clarified that, as of now, there is no established proof confirming any wrongdoing by the university.
NELFUND explained that it operates a structured disbursement and reconciliation framework in line with its statutory mandate, noting that funds are released through established institutional channels with compliance mechanisms designed to ensure transparency and accountability.
The agency further stated that in situations where concerns arise regarding delays in crediting student accounts or reconciliation processes within institutions, it engages directly with the affected school to address such issues administratively and in accordance with due process.
“Allegations reported in the media do not constitute established findings,” the statement read, adding that the Fund relies strictly on verified documentation, formal reconciliation procedures and audit mechanisms in reviewing any concerns related to its disbursement processes.
NELFUND reiterated its commitment to safeguarding the interests of eligible Nigerian students and ensuring that all loan disbursements are applied in line with the law. It also pledged continued collaboration with partner institutions to uphold transparency and protect the integrity of the student loan programme.
The statement was signed by Mrs Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND.
EduTimes Africa, a product of Education Times Africa, is a magazine publication that aims to lend its support to close the yawning gap in Africa's educational development.