NELFUND Refutes Allegation of Student Loan Diversion at UniAbuja

Kuni Tyessi in Abuja

The Nigerian Education Loan Fund (NELFUND) has responded to recent media reports alleging the diversion of student loan funds at the University of Abuja, now Yakubu Gowon University, stating that no verified evidence supports such claims.

In a statement issued on Friday by its Director in charge of Strategic Communications, Mrs. Oseyemi Oluwatuyi, the Fund clarified that, as of now, there is no established proof that the University has diverted, misappropriated, or unlawfully withheld NELFUND disbursements.

NELFUND explained that it operates a structured disbursement and reconciliation framework in accordance with its statutory mandate and all loan payments, the Fund said, are released through established institutional channels with compliance and accountability mechanisms embedded to ensure transparency.

Oluwatuyi further noted that where concerns arise, particularly regarding delays in crediting student accounts or reconciliation processes within institutions, it engages directly with the relevant university to resolve such matters administratively and in line with due process.

“It is important to emphasize that allegations reported in the media do not constitute established findings,” the statement read, “NELFUND remains committed to relying strictly on verified documentation, formal reconciliation procedures, and audit mechanisms in addressing any issues relating to its disbursement processes.”

The Fund reiterated its commitment to safeguarding the interests of eligible Nigerian students and ensuring that all loan disbursements are applied strictly in accordance with the law.

NELFUND also pledged continued collaboration with partner institutions nationwide to uphold transparency, accountability, and the integrity of the student loan programme.