Student Loan: No Verified Evidence of Fund Diversion Against UniAbuja, Says NELFUND

Kuni Tyessi in Abuja

The Nigerian Education Loan Fund (NELFUND) has cleared the management of the University of Abuja, now Yakubu Gowon University of alleged diversion of funds meant for the student loan scheme.

NELFUND, in a statement said there is no verified evidence before it establishing that the University of Abuja has diverted, misappropriated, or unlawfully withheld NELFUND disbursements.

The statement signed by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications, NELFUND, further stressed that NELFUND operates a structured disbursement and reconciliation framework in line with its statutory mandate.

It explained that funds are released through established institutional channels, and compliance mechanisms are often in place to ensure accountability and transparency.

“And wherever 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.”

“NELFUND renewed commitment to relying strictly on verified documentation, formal reconciliation procedures, and audit mechanisms in addressing any issues relating to its disbursement processes.

It reiterated commitment to protecting the interests of eligible Nigerian students, and ensuring that all disbursements are applied in accordance with the law.

NELFUND said it will continue to work collaboratively with all partner institutions to uphold transparency, accountability, and the integrity of the student loan programme.