The Nigerian Education Loan Fund (NELFUND) has officially denied allegations that student loan funds were diverted or misappropriated at the University of Abuja.
In a statement released on February 13, 2026, the Fund clarified that there is currently no verified evidence to support claims that the institution unlawfully withheld or misapplied disbursements meant for its students.
This clarification follows reports alleging that senior administrators at the university had lodged a portion of a N256.1 million disbursement into interest-bearing accounts. The funds, which were released on January 29, 2026, were intended to cover institutional fees for 2,245 approved beneficiaries for the 2025/2026 academic session. NELFUND emphasized that its disbursement process is structured to ensure funds are released through established institutional channels with built-in accountability mechanisms.
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“Allegations reported in the media do not amount to established findings,” stated Mrs. Oseyemi Oluwatuyi, NELFUND’s Director of Strategic Communications. She noted that the Fund relies strictly on formal reconciliation procedures and audit mechanisms to resolve any administrative delays. Addressing concerns over internal memos advising students to pay upfront and seek reimbursement, the Fund maintained that it works directly with partner institutions to resolve such discrepancies administratively.
As of February 1, 2026, NELFUND has disbursed a total of N183.89 billion under the current scheme. Out of this total, N107.09 billion has been paid toward institutional fees, while N76.80 billion has been disbursed as upkeep allowances to students. The Fund reiterated its commitment to protecting the interests of Nigerian students and noted that 265 institutions have successfully benefited from the program to date.
