₦airaland Forum

The Nigerian Education Loan Fund, NELFUND, says it is alarmed by the recent surge of inaccurate, misleading, and dangerously speculative reports circulating in the public space regarding the administration of the student loan scheme.

“These reports, which suggest misappropriation and mismanagement of funds, are entirely false, grossly irresponsible, and deeply damaging to the integrity of an institution established to deliver financial hope to millions of Nigerians, “the students loan agency said in a statement on Thursday.

The statement by Mrs. Oseyemi Oluwatuyi, Director, Strategic Communications of NELFUND, while distancing the agency from any corrupt act, said “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.”

It stated that no funds have been mismanaged, stolen, or are unaccounted for under the current NELFUND student loan scheme.

Noting that the scheme officially launched its student loan application portal in 2024, NELFUND said, “As of today, all institutional fees are paid directly to verified institutions, while upkeep allowances are disbursed to the verified bank accounts of eligible student applicants.”

According to the agency,”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 institution.

“NELFUND operates a zero human interface, fully automated loan system that eliminates opportunities for financial misconduct. Every application and disbursement is digitally tracked, time stamped, and verifiable,”it added.

The agency said its “commitment to transparency and cooperation with oversight agencies, including the ICPC, is total and unwavering.”

“We have complied fully with every request for information and will continue to uphold the highest standards of public accountability.

“The circulation of unverified, context-free, and inflammatory claims at this critical stage of implementation is not only reckless, it is a deliberate sabotage of a nationally significant, people centered programme designed to expand access to tertiary education and economic mobility.

“We call on the media, stakeholders, and the public to resist the pull of sensationalism and await verified updates directly from NELFUND.

“We remain focused, undeterred, and committed to the transparent delivery of this national mandate. The future of Nigeria’s youth is too important to be hijacked by misinformation”,the agency added.

https://www.vanguardngr.com/2025/05/students-loan-report-of-alleged-mismanagement-of-funds-false-nelfund/

Previous Thread:
https://www.nairaland.com/8414094/n71.2bn-out-n100bn-disbursed-student#135198692

Which yeye record?

When I first talked about the diverting of NELFUND, some people was attacking me.

The students which have been denied have come out to tel their stories

Hehehe 🤣 corruption is fighting back

Lol

Is this APC's change and renewed hope? More than 10 years of what we can't even describe. Yet they're already focused on 2027

Lol

Dis country sha

The only good thing about Nigeria is that i sabi the country well well

Anytime you read this kind big grammar just know that agbada don hook for barbwire.

Hand go soon touch una, lots of students yet to get allowance

Someone has received calls from above. Corruption everywhere. They want to silence ICPC. Some of their agents here will later say Tinubu has no hands in it. We will surely get there when we are ready. But for now, we should enjoy the ride.

vERY Soon, we all go KNOW

The students get their stipends directly paid to their accounts. Cleared. But what of the school fees paid directly to the institutions coffers?

🤔

MFORC:
Anytime you read this kind big grammar just know that agbada don hook for barbwire.

There was a caught!😂😂😂

I also saw on the news yesterday that the government has budgeted billions for school feeding program...🤣🤣🤣🤣🤣🤣

Any NEWS this Tinubu's Government DENIED is actually TRUE

ICPC is a Government agency. They can't lie about this

NELFUND operates a zero human interface, fully automated loan system that eliminates opportunities for financial misconduct. Every application and disbursement is digitally tracked, time stamped, and verifiable,”it added.

Yeye dey smell,
Zero human interface, fully automated system?
For dis same Nigeria?
Mechonu for dia.

Hmmmmm2024:
I also saw on the news yesterday that the government has budgeted billions for school feeding program...🤣🤣🤣🤣🤣🤣

Another lies and propaganda from Tinubu's incompetent Government
Everything they claimed they achieve is only on paper

All our leaders are confirmed comedians

MFORC:
Anytime you read this kind big grammar just know that agbada don hook for barbwire.

Agbadorians defending mandate......the mandate man is looting massively

SeeWahala:
Hehehe 🤣 corruption is fighting back

NELFUND is probably trying to cover up the embezzlement here.

Once dey deny it then know it is true

Why not take-on the ICPC who issued the statement earlier indicting some persons and high institutions.
Continue to deny until the facts are presented to you.

abc115:
https://www.vanguardngr.com/2025/05/students-loan-report-of-alleged-mismanagement-of-funds-false-nelfund/

Previous Thread:
https://www.nairaland.com/8414094/n71.2bn-out-n100bn-disbursed-student#135198692

Is only in Nigeria corrupt organization and public office holder usually have voice and have a way of fighting back when being accused of mismanaging public funds, in a saner country they all should be out of office and thoroughly investigated then serve them the punishment they deserve but yeah we are playing politics and tribalism over everything they won’t be prosecuted for any wrongdoing if they are loyalists to this corrupt government

No need for long stories. Oya, publish the names of all the beneficiaries, their institutions and amount disbursed to each of them.

I can categorically tell you that this is a CBEX kind of government
It's a kind of government where the common wealth of the masses are no longer safe.

Useless professors.

ICPC please don't allow them make una look stu*id. Provided verifiable evidence to make Nigerians believe your stewardship.

Corruption fighting back.
And it's fighting back really hard