By Rosemary Etim Bassey
The Nigerian Education Loan Fund (NELFUND) has denied reports alleging that student loan funds were diverted at the University of Abuja, recently renamed Yakubu Gowon University, saying there is no verified evidence to support the claims.
In a statement on Friday, NELFUND’s Director of Strategic Communications, Mrs Oseyemi Oluwatuyi, said there is no established proof that the university diverted, misappropriated or unlawfully withheld any loan disbursements.
She explained that the Fund operates a structured disbursement and reconciliation system in line with its legal mandate, adding that all payments are made through approved institutional channels with built-in compliance and accountability checks.
Oluwatuyi said that where concerns arise, especially delays in crediting student accounts or reconciliation issues within institutions, NELFUND engages directly with the affected universities to resolve them administratively and in accordance with due process.
“Allegations reported in the media do not amount to confirmed findings. NELFUND relies on verified documents, formal reconciliation procedures and audit mechanisms in handling issues related to disbursement,” the statement said.
The Fund reiterated its commitment to protecting eligible students and ensuring loan payments are used strictly according to the law, while pledging continued collaboration with partner institutions to promote transparency and accountability in the student loan programme.