NELFUND Refutes Student Loan Diversion Claims at Abuja

The Nigerian Education Loan Fund (NELFUND) issued a statement on February 13, 2026, denying allegations of the diversion of student loans at the University of Abuja. Mr. Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND, clarified that recent media reports alleging misapplication and unlawful withholding of disbursed funds lacked verified evidence.

NELFUND emphasized that its operational structure and reconciliation framework comply with statutory mandates for fund release. The statement addressed claims that senior officials at the University of Abuja, including Vice Chancellor Professor Hakeem Fawehinmi, diverted a portion of the N256.1 million received on January 29, 2026, intended for 2,245 approved beneficiaries for the 2025/2026 academic session.

Allegations suggested that funds were lodged in an interest-bearing account instead of being credited to student accounts, leading to students being shortchanged. NELFUND reiterated its commitment to protecting the interests of eligible Nigerian students and maintaining transparency in the disbursement process.