The Nigerian Education Loan Fund (NELFUND) has officially dismissed claims that the University of Abuja, now Yakubu Gowon University, diverted or misappropriated funds intended for the student loan programme.

In a statement released by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND, the agency confirmed that there is no verified evidence supporting allegations of fund diversion, unlawful withholding, or mismanagement by the university.

Structured Disbursement and Accountability

NELFUND emphasized that it operates a structured disbursement and reconciliation system in line with its statutory mandate. Funds are released through established institutional channels, and robust compliance mechanisms are in place to ensure transparency and accountability.

Where concerns arise, such as delays in crediting student accounts or questions during institutional reconciliations, NELFUND engages directly with the institution to resolve issues administratively and in accordance with due process.

Commitment to Transparency and Student Protection

NELFUND reiterated its reliance on verified documentation, formal reconciliation procedures, and audit mechanisms for all disbursement matters.

The agency affirmed its dedication to:

• Protecting the interests of eligible Nigerian students
  
• Ensuring that all funds are applied in accordance with the law
  
• Maintaining close collaboration with partner institutions to uphold the integrity of the student loan programme
  

This statement reinforces NELFUND’s ongoing commitment to transparent and accountable management of educational loans across Nigerian universities.