The Nigerian Education Loan Fund (NELF) has reaffirmed that student loans at the University of Abuja are properly managed, dismissing media reports alleging diversion of funds and emphasizing the safeguards in place to ensure accountability.
The clarification follows an online report alleging that university officials diverted multibillion-naira grants meant for indigent students, claiming that N256,142,500 released on January 29, 2026, for 2,245 beneficiaries was mishandled, an accusation the institution has denied.
In a statement by its Director of Strategic Communications, Oseyemi Oluwatuyi, on Friday, the agency said it reviewed circulating allegations and found no verified evidence that the university diverted, misappropriated, or unlawfully retained NELF disbursements.
“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,” the statement partly read.
The Fund explained that it operates a formal disbursement and reconciliation system under its statutory mandate. Resources are channelled through approved institutional channels, with compliance checks designed to guarantee transparency and accountability.
“NELFUND operates a structured disbursement and reconciliation framework in line with its statutory mandate. Funds are released through established institutional channels, and compliance mechanisms are in place to ensure accountability and transparency,” the statement added.
Addressing concerns about crediting timelines and reconciliation, NELF said it engages directly with institutions to resolve any issues administratively.
The agency stressed that media reports are not confirmed findings and that it relies strictly on audits and verified documentation.
“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,” the statement noted.
