The Federal Government has refuted claims of fraud in the Nigeria Education Loan Fund (NELFUND) following reports suggesting discrepancies in the disbursement of student loans.

 

The denial comes in response to a recent statement by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which announced plans to investigate alleged irregularities in the management of the fund. According to the ICPC, preliminary findings indicated that while N100 billion was released for the student loan scheme, only N28.8 billion was disbursed, leaving a purported N71.2 billion unaccounted for.

 

The National Association of Nigerian Students (NANS) also expressed concern over the matter and threatened to launch a nationwide protest if the allegations were not addressed.

 

However, speaking on Wednesday after a meeting with Vice Chancellors, officials of the National Universities Commission (NUC), NELFUND, and the Federal Ministry of Education, the Minister of Education, Dr. Tunji Alausa, dismissed the allegations as baseless.

 

“There is no fraud in NELFUND,” Dr. Alausa asserted. “The ICPC has since clarified that the initial information was incorrect. The issue at hand relates to timing and not financial misconduct.”

 

He emphasized that the administration remains committed to transparency and accountability in the disbursement of student loans and urged the public to disregard the earlier reports.