By Adenike Lawal
The Nigerian Education Loan Fund has broken its silence over allegations of financial misconduct, dismissing the claims as false, harmful, and rooted in misinformation.
In a strong statement issued by its Director of Strategic Communications, Mrs Oseyemi Oluwatuyi, NELFUND insisted that no funds have been stolen or misused under the 2024 student loan scheme.
It stressed that all tuition payments go directly to approved institutions, while verified students receive their maintenance allowances through secure digital channels.
“Every transaction is electronically recorded, fully traceable, and tightly monitored,” the agency stated, assuring Nigerians of transparency and zero tolerance for corruption.
NELFUND blamed the controversy on confusion with outdated loan programs, saying the figures circulating in the media have no link to its current operations.
It warned the public against accepting sensational reports at face value.
The agency reaffirmed its cooperation with anti-graft bodies and confirmed it has met all oversight requirements.
It urged media professionals and the public to focus on facts, not fear-mongering.
“This loan initiative is a critical lifeline for Nigerian students,” it added. “We will not allow falsehoods to derail progress.”