NELFUND CHIEF DENIES MISUSE OF STUDENTS’ LOAN FUNDS

The Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, has rejected allegations of financial misappropriation against the agency, insisting that NELFUND’s operations are subject to established financial controls and accountability measures.

Sawyer reportedly dismissed claims questioning the management of funds under the student loan scheme, maintaining that the agency has remained committed to transparency in the administration of financial support for Nigerian students.

The NELFUND boss explained that the organisation operates within government-approved procedures and that disbursements are made through established channels designed to ensure that funds reach their intended beneficiaries.

He stressed that the agency’s responsibilities include providing financial assistance to eligible students while maintaining proper records and accountability for the funds entrusted to it.

The controversy comes as NELFUND continues to expand the Federal Government’s student loan programme, which is designed to provide financial support for students facing difficulties meeting the cost of tertiary education.

Since the scheme began, thousands of students across universities, polytechnics and other higher institutions have benefited from financial assistance covering approved educational expenses.

Sawyer maintained that the agency has nothing to hide and would cooperate with any legitimate process aimed at verifying its financial activities.

He also urged members of the public to distinguish between verified information and allegations circulating without sufficient evidence, particularly when such claims concern public funds and government programmes.

According to him, NELFUND remains focused on ensuring that eligible students can access financial support without unnecessary delays.

The agency has continued to encourage students who meet the requirements to apply through its official channels and provide accurate information during the application process.

The student loan initiative is part of the Federal Government’s broader effort to improve access to tertiary education and reduce the financial pressure on students and their families.

However, the growing size of the programme has also increased public interest in how funds are allocated, disbursed and monitored.

Sawyer's rejection of the allegations is therefore expected to fuel further discussion about transparency and accountability within the student loan system.

He reiterated that NELFUND would continue to operate in accordance with government regulations while working to strengthen its systems and improve the delivery of financial assistance to Nigerian students.

The agency's management also urged stakeholders to rely on official information when assessing its activities and financial operations.