The Nigerian Education Loan Fund (NELFUND) has dismissed allegations of diversion of student loan funds at the University of Abuja, now renamed Yakubu Gowon University, saying there is no verified evidence to support the claims.
In a statement issued on Friday by its Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, the Fund said there is no established proof that the university diverted, misappropriated or unlawfully withheld NELFUND disbursements.
Oluwatuyi explained that NELFUND operates a structured disbursement and reconciliation framework in line with its statutory mandate, adding that all loan payments are released through established institutional channels with embedded compliance and accountability mechanisms to ensure transparency.
“As of now, there is no verified evidence to support claims that the University has diverted or mismanaged NELFUND disbursements,” she said.
The spokesperson noted that where concerns arise, particularly regarding delays in crediting students’ accounts or reconciliation processes within institutions, the Fund engages directly with the relevant university to resolve such issues administratively and in accordance 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 protecting 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 across the country to uphold transparency, accountability and the integrity of the student loan programme.
