On Friday, the Nigerian Education Loan Fund (NELFUND) declared that there was no concrete proof that funds from student loans had been misappropriated at the University of Abuja.
This was revealed by the Fund in a statement released in Abuja by Mrs. Oseyemi Oluwatuyi, its Director of Strategic Communications.
According to Oluwatuyi, the body took note of recent media reports that claimed the institution had unlawfully withheld, misappropriated, or diverted its payments.
According to her, there isn't any confirmed proof that the university misappropriated or diverted any of its funds at this time.
“NELFUND wishes to state clearly, 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,” she said
In accordance with its statutory mandate, she clarified, NELFUND operated a systematic disbursement and reconciliation framework.
Oluwatuyi went on to say that funds were disbursed via recognised institutional channels, accompanied by compliance measures to guarantee transparency and accountability.
“Where concerns arise regarding timelines of crediting student accounts or institutional reconciliation processes, NELFUND engages directly with the relevant institution to clarify and resolve such matters administratively and in accordance with due process.
“It is important to emphasise 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,” she said.
She reaffirmed NELFUND's dedication to safeguarding qualified Nigerian students and making sure that all contributions are applied legally.
She also promised that the Fund would keep working with partner institutions to maintain the student loan program's accountability, transparency, and integrity.
