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The Nigerian Education Loan Fund (NELFUND) has said that there is no verified evidence before the Fund establishing that the University of Abuja has diverted, misappropriated, or unlawfully withheld NELFUND disbursements.
This was contained in a statement by Director, Strategic Communications NELFUND, Mrs Oseyemi Oluwatuyi, in reaction to recent media reports alleging the diversion of student loan funds at the University of Abuja.
She said NELFUND operates a structured disbursement and reconciliation framework in line with its statutory mandate, stressing that Funds are released through established institutional channels, and compliance mechanisms are in place to ensure accountability and transparency.
According to her, where concerns arise regarding timelines of crediting student accounts or institutional reconciliation processes, NELFUND engages directly with the relevant institution to clarify and resolve such matters administratively and in accordance with due process.
“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 reiterated the Fund’s commitment to protecting the interests of eligible Nigerian students and ensuring that all disbursements are applied in accordance with the law.
Oluwatuyi added that NELFUND will continue to work collaboratively with all partner institutions to uphold transparency, accountability, and the integrity of the student loan programme.