The Nigerian Education Loan Fund, or NELFUND, has categorically denied charges that student loan funds were embezzled at the University of Abuja, claiming that there is no credible proof to back up the allegations.
The fund acknowledged the reports in a statement released on Friday by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications. However, the fund emphasized that there is currently no verified evidence that the University of Abuja unlawfully withheld, misappropriated, or diverted NELFUND disbursements.
According to NELFUND, a systematic framework for disbursement and reconciliation that is based on its statutory purpose serves as the foundation for its activities.
The agency claims that in order to maintain openness, money are only transferred through approved institutional channels and that compliance and accountability procedures are included into the procedure.
The fund clarified that in order to settle disputes administratively and in accordance with due process, it works directly with the impacted institution when they occur, especially when it comes to delays in crediting student accounts or reconciling institutional data.
The statement added that NELFUND only uses validated documentation, official reconciliation processes, and audit mechanisms to address any issues with its disbursement system. “It is important to emphasize that allegations reported in the media do not amount to established findings,” the statement said.
The organization reaffirmed its dedication to Nigerian students, stating that it is still committed to safeguarding the rights of qualified recipients and making sure that all loan disbursements are carried out strictly in compliance with the law.
Additionally, NELFUND promised to keep working with partner schools around the country to maintain the integrity, accountability, and transparency of the student loan program.
