The Nigerian Education Loan Fund (NELFUND) has officially cleared the University of Abuja, now known as Yakubu Gowon University, of allegations regarding the diversion of funds allocated for the student loan scheme.
In a statement issued by its Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, NELFUND affirmed that there is no verified evidence to support claims that the university diverted, misappropriated, or unlawfully withheld disbursements meant for eligible students under the scheme.
The Fund emphasized that its operations are guided by a structured disbursement and reconciliation framework designed in line with its statutory mandate. According to the statement, loan funds are released through established institutional channels, with compliance mechanisms firmly in place to guarantee transparency and accountability at every stage of the process.
NELFUND explained that in situations where concerns arise—particularly regarding delays in crediting student accounts or reconciliation procedures—it engages directly with the affected institution to resolve such matters administratively and in accordance with due process. This approach, it noted, ensures that issues are clarified through verified documentation and formal audit mechanisms rather than speculation.
Reaffirming its commitment to integrity, NELFUND stated that it remains steadfast in protecting the interests of eligible Nigerian students and ensuring that all disbursements are applied strictly in accordance with the law. The agency also pledged to continue working collaboratively with partner institutions nationwide to strengthen transparency, accountability, and the credibility of the student loan programme.
The clarification comes amid heightened public interest in the administration of the student loan scheme, with NELFUND assuring stakeholders that it will continue to uphold the highest standards in managing funds intended to expand access to education across Nigeria.