The Nigerian Education Loan Fund (NELFUND) has denied claims that student loan funds were diverted at the University of Abuja, saying there is no verified evidence to support the allegations.
In a statement on Friday, NELFUND says the media reports alleging misappropriation of its disbursements were not backed by proof.
The Fund said it runs a structured disbursement and reconciliation system, with funds released through approved institutional channels and monitored for accountability.
NELFUND added that when delays or concerns arise over crediting student accounts, it engages directly with the affected institution to resolve the issue through due process.
The agency warned that media allegations should not be treated as confirmed findings, stressing that it relies on verified documents and formal audits.
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NELFUND said it remains committed to protecting eligible students and ensuring transparency in the student loan programme.
The response followed a report by Peoples Gazette, which alleged that senior officials of the University of Abuja, including Vice-Chancellor Professor Hakeem Fawehinmi, diverted student loan funds.
The report claimed NELFUND paid ₦256.1 million to the university in January 2026 for over 2,200 students, alleging the funds were improperly handled.
The University of Abuja rejected the claims, describing them as false and unsupported by evidence.
The university confirmed receipt of the funds but said loan disbursement is based strictly on student applications. It added that some students had already paid their fees before the funds were released.
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