NELFUND Denies Alleged Diversion of Student Loans at University of Abuja

The Nigerian Education Loan Fund (NELFUND) has dismissed media allegations claiming diversion of student loan funds at the University of Abuja.

In an official statement, NELFUND stated 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 Fund explained that it operates a structured disbursement and reconciliation framework aligned with its statutory mandate. According to the statement, funds are released through established institutional channels, with compliance mechanisms in place to ensure accountability and transparency.

Addressing concerns about delays in crediting student accounts or reconciliation processes, NELFUND noted that it engages directly with institutions to clarify and resolve issues administratively and in accordance with due process.

“It is important to emphasize that allegations reported in the media do not constitute established findings. 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 all disbursements comply with the law. It also pledged continued collaboration with partner institutions to uphold transparency, accountability, and integrity within the student loan programme.