By Paul Effiong, Abuja
Nigeria Education Loan Fund, NELFund, has denied the allegation in a section of the media that it diverted funds meant for the students loan scheme, claiming that reports from its data bank showed a transparent process in the disbursement of N54 billion out of N203 billion given to different institutions and beneficiaries.
Its Managing Director, Akintunde Sawyerr doslosed this Wednesday while speaking with members of the House Committee on Students Loans at the National Assembly Complex, Abuja.
According to him, he was surprised to hear from the Economic and Financial Crimes Commission, EFCC, reports indicating that there had been irregularities in the process through which the funds were disbursed, even as they have promised to cross check their facts.
He said, “I think this followed a report in the print media that suggested that 51 institutions were erring. The irregularities they seem to have identified with the institutions and their relationship with the students in terms of access to education and charges or otherwise.
“We, as NELFund, were caught up in that release by the ICPC, who indicated that funds had been diverted by the Nigerian Education Loan Fund.
“We immediately reacted to that report because we recognised the damage, even though we knew it was unfounded, we recognised the damage that it might do to public confidence in a scheme where there is already a great deal of scepticism.”
In his remarks, the Chairman of the Committee, Ifeoluwa Ehindero informed that the administration of the student loan scheme has been implemented by the National Education Loan Fund, even as he expressed surprise over several negative reports on social media, as well as the conventional media.
