The Nigerian Education Loan Fund (NELFUND) has denied reports alleging that student loan funds were diverted at the University of Abuja, stating that there is currently no verified evidence to support the claims.
The Fund disclosed this on Friday while reacting to recent media reports alleging the diversion of student loan funds at the University of Abuja.
NELFUND stated clearly that, “as of this moment, there is no verified evidence before the Fund establishing that the University of Abuja has diverted, misappropriated, or unlawfully withheld NELFUND disbursements.”
The agency explained that it operates a structured disbursement and reconciliation framework in line with its statutory mandate. According to the statement, funds are released through established institutional channels, while compliance mechanisms are in place to ensure accountability and transparency.
It added that 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 emphasize that allegations reported in the media do not constitute established findings,” the Fund said, noting that it relies strictly on verified documentation, formal reconciliation procedures, and audit mechanisms in addressing any issues relating to its disbursement processes.
NELFUND 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 also said it will continue working with partner institutions to uphold transparency, accountability, and the integrity of the student loan programme.
