NELFUND Refutes UniAbuja Loan Diversion Claims

NELFUND Refutes UniAbuja Loan Diversion Claims

The Nigerian Education Loan Fund (NELFUND) has strongly refuted recent claims that officials of the University of Abuja (UniAbuja), including the vice‑chancellor and senior administrators, diverted or misappropriated student loan funds intended for indigent students.

In a detailed statement, NELFUND clarified that no verified evidence exists to support allegations that UniAbuja unlawfully withheld or diverted loan disbursements. The Fund said the speculation circulating in some media reports — which implicated the university’s vice‑chancellor, the Dean of Students’ Affairs, and other officials in the alleged diversion of multibillion‑naira funds — is unfounded and misleading.

The reports also suggested that UniAbuja failed to reimburse residual balances to students whose actual tuition fees were lower than the amounts disbursed by NELFUND on their behalf. In response, NELFUND maintained that its structured disbursement and reconciliation framework ensures that funds released for student loans are properly applied in line with its statutory mandate.

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Mrs. Oseyemi Oluwatuyi, NELFUND’s Director of Strategic Communications, emphasised that the Fund’s operations are governed by formal verification, compliance, and reconciliation protocols. According to her, loan funds are released through established institutional channels, and strict accountability mechanisms are in place to safeguard both student and institutional interests.

The Fund acknowledged that discrepancies or timing issues sometimes arise in the process of crediting student or institutional accounts, but said these are typically resolved through direct engagement with the relevant institutions, in accordance with due administrative processes.

“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,” the statement read.

NELFUND reiterated its commitment to transparency, accountability, and rigorous audit procedures, which include reliance on verified documentation and formal reconciliation mechanisms when addressing any issue related to its student loan disbursements.

The Fund also reaffirmed its dedication to protecting the interests of eligible Nigerian students and ensuring that all disbursements are applied lawfully and effectively to support access to tertiary education.

NELFUND Refutes UniAbuja Loan Diversion Claims