Alleged Diversion: No ₦71bn Missing, Stolen From Student Loan Scheme — NELFUND
THECONSCIENCE NG reports that the Nigeria Education Loan Fund (NELFUND) has dismissed recent allegations of fund diversion in the student loan scheme, affirming that no money is missing.
A media report had claimed that certain institutions were diverting funds intended for the scheme, prompting the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to open an investigation.
Responding to the claims, NELFUND’s Managing Director and CEO, Akintunde Sawyerr, said the fund remains transparent and accountable.
“We are all looking for this so-called money. Let me be very clear: no money has been stolen,” Sawyerr stated during a television interview. “The President, in his wisdom, initiated this well-intentioned programme to support students in need. The funds we’ve received are being used for that purpose.”
He acknowledged there had been operational challenges but maintained that these were due to human errors and not corruption.
“There have been some issues at this phase where human intervention comes in, but again, no money is missing,” he reiterated.
