NELFUND says UNIABUJA did not divert student loan funds
NELFUND has addressed allegations that the University of Abuja diverted student loan funds. In a statement, the Fund said there is no verified evidence supporting these claims. Both NELFUND and the university emphasized their commitment to transparency and due process. The university also denied the allegations, describing them as false and misleading.
What we know
- NELFUND stated that there is no verified evidence that the University of Abuja diverted, misappropriated, or unlawfully withheld student loan disbursements.
- The Fund explained that it uses a structured disbursement and reconciliation framework to ensure accountability and transparency.
- When concerns arise about crediting student accounts or reconciliation, NELFUND engages directly with the institution to resolve issues according to due process.
- The university confirmed receipt of N256,142,500 from NELFUND on January 29, 2026, for 2,245 beneficiaries, but maintained that disbursement is strictly application-based.
- Both NELFUND and the university stressed that media allegations do not constitute established findings, and all processes are subject to formal audit and verification.
