Nigerian Education Loan Fund (NELFund) has dismissed reports alleging the diversion of student loan funds at the University of Abuja (UniAbuja).
In a statement on Friday by Oseyemi Oluwatuyi, director of strategic communications at NELFund, said there is no verified evidence establishing that the university diverted, misappropriated, or unlawfully withheld loan disbursements.
NELFund said it operates a structured disbursement and reconciliation framework in which funds are released through established institutional channels, with mechanisms in place to ensure accountability and transparency.
“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,” the statement added.
NELFund noted that allegations reported in the media do not constitute established findings.
The statement added that NELFund remains committed to relying strictly on verified documentation, formal reconciliation procedures, and audit mechanisms in addressing any issues relating to its disbursement processes.
NELFund also reiterated its commitment to protecting the interests of eligible Nigerian students and ensuring that all disbursements are applied in accordance with the law.
The fund pledged to continue to work collaboratively with all partner institutions to uphold transparency, accountability, and the integrity of the student loan programme.
