The Nigeria Education Loan Fund, NELFUND, says no ₦71 billion is missing or stolen from the student loan scheme, despite recent media reports suggesting otherwise.
The reports had alleged that some schools were diverting funds meant for students, prompting an investigation by the Independent Corrupt Practices and Other Related Offences Commission, ICPC.
Speaking in an interview monitored by RadioNow’s news desk. NELFUND’s Managing Director, Akintunde Sawyerr, says the claims are false, he stressed that “no money is missing, and no money has been stolen.”
Also Read: NELFUND Denies Mismanagement Claims, Clarifies Loan Operations
Sawyerr explained that the funds are strictly for covering tuition and institutional charges and are sent directly to the schools not to students. He clarified that schools do not disburse money to students, except in rare cases of double payment.
The NELFUND boss admitted there have been some issues during the implementation phase involving human intervention, but investigations are ongoing to trace and understand what went wrong.
He reassured Nigerians that NELFUND is operating transparently and remains committed to bridging the education funding gap for students who need financial assistance.
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