NELFUND Denies Allegations of Student Loan Diversion at University of Abuja

The Nigerian Education Loan Fund (NELFUND) has denied claims that funds meant for students at the University of Abuja were misappropriated or withheld.

The clarification, issued on February 13, 2026, by Director of Strategic Communications Mrs. Oseyemi Oluwatuyi, comes after media reports suggested that disbursements intended for 2,245 approved beneficiaries in the 2025/2026 academic session were improperly handled.

NELFUND Confirms Accountability Measures

NELFUND emphasised that there is no verified evidence of diversion, and the Fund operates a structured disbursement and reconciliation framework in line with its statutory mandate.

Funds are released through established institutional channels, with compliance mechanisms embedded to ensure transparency. When questions arise regarding the timing of student account credits or institutional reconciliation, the Fund engages directly with the relevant institution to clarify and resolve issues administratively.

The agency reiterated its commitment to protecting eligible students’ interests and maintaining the integrity of the loan programme. As of February 1, 2026, NELFUND has disbursed N183.89 billion under the current scheme, including N107.09 billion toward institutional fees and N76.80 billion for upkeep allowances, benefiting 265 institutions nationwide.

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