Following allegations of financial mismanagement, the Nigerian Education Loan Fund (NELFUND) has issued a rebuttal to recent reports of corruption within its student loan scheme.
In a statement released on Thursday, the Fund described the reports as “inaccurate, misleading, and dangerously speculative.”
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) had earlier announced the discovery of billions of naira intended for the student loan scheme which was diverted.
However, NELFUND clarified that the figures cited in the ICPC’s findings pertain to previous education financing interventions and are not associated with the current student loan program.
“This is a coordinated distortion of facts that undermines public trust, weaponizes misinformation, and threatens the credibility of a national intervention still in its infancy,” Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND, stated.
It emphasised that such claims of mismanagement were are “entirely false, grossly irresponsible, and deeply damaging to the integrity” of the institution.
