The Nigerian Education Loan Fund (NELFUND) has dismissed recent media reports alleging mismanagement and missing funds within its student loan scheme, describing them as false, misleading, and harmful to public trust.
In a statement issued on Thursday, by NELFUND’s Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, states that the reports were based on distorted facts from unrelated education financing initiatives predating NELFUND’s operations.
“The figures and funding amounts currently being misrepresented in the public are drawn from entirely different education financing interventions predating NELFUND’s operational commencement. They bear no relevance to the current student loan scheme and should not be falsely attributed to this.” the statement read.
The statement reaffirmed that NELFUND’s loan disbursement process is fully automated, with no human interface, and that all institutional fees and upkeep allowances are paid directly to verified institutions and eligible students’ bank accounts.
While reaffirming the Fund’s full cooperation with oversight bodies like the ICPC, NELFUND urged the media and public to rely on official updates to avoid spreading misinformation about a programme designed to broaden access to tertiary education for millions of Nigerians.
