The Nigerian Education Loan Fund (NELFUND) has strongly denied allegations that ₦71 billion is missing from its newly launched student loan program.
The denial follows viral claims suggesting misappropriation or unaccounted funds.
NELFUND clarified that no disbursements have been made yet and that all funds remain intact within approved government channels.
The agency emphasized that applications are still ongoing and the first disbursements are scheduled for later in the year.
Managing Director Akintunde Sawyerr said financial transparency remains a cornerstone of the student loan system, designed to assist indigent students with access to tertiary education.
The organization pledged continued openness with stakeholders.
