NELFUND Denies Allegations of Misappropriated Funds.

Recent reports alleging misappropriation of funds within the Nigeria Education Loan Fund (NELFUND) have been firmly refuted by the agency’s Managing Director and Chief Executive Officer, Akintunde Sawyerr. Speaking on Channels Television’s “Politics Today,” Mr. Sawyerr unequivocally stated that “no money has been stolen” and that NELFUND possesses “a clean bill of health.”

This denial follows reports triggering an investigation by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) into potential diversion of funds by certain institutions participating in the student loan scheme.

Mr. Sawyerr reiterated the purpose of NELFUND as bridging the financial gap for students lacking the means to pursue higher education, emphasizing the Fund’s commitment to accountability and transparency. While acknowledging potential issues related to human intervention in the application process, he maintained that the core funds remain secure and have not been diverted.