The Nigerian Schooling Mortgage Fund has denied allegations that scholar mortgage funds had been diverted on the College of Abuja.
That is in accordance with an announcement issued on February 13, 2026, by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications on the Nigerian Schooling Mortgage Fund.
The clarification follows current media studies alleging that disbursements meant for college students of the establishment had been misapplied or unlawfully withheld.
What NELFUND mentioned
In accordance with the assertion titled “Allegations Regarding Disbursement of NELFUND Pupil Loans on the College of Abuja,” the Fund mentioned it has taken notice of current studies alleging diversion of scholar mortgage disbursements on the College of Abuja.
Nevertheless, NELFUND burdened that as of the time of the assertion, there was no verified proof earlier than it establishing that the establishment had diverted, misappropriated, or unlawfully withheld its disbursements.
The Fund said that it operates a structured disbursement and reconciliation framework in step with its statutory mandate, including that funds are launched via established institutional channels.
NELFUND defined that compliance mechanisms are embedded in its processes to make sure accountability and transparency.
- “The place considerations come up relating to timelines of crediting scholar accounts or institutional reconciliation processes, NELFUND engages immediately with the related establishment to make clear and resolve such issues administratively and in accordance with due course of,” the assertion learn.
She emphasised that allegations reported within the media don’t quantity to established findings, noting that the Fund depends strictly on verified documentation, formal reconciliation procedures and audit mechanisms in addressing issues associated to disbursement.
Backstory
Within the days main as much as the clarification, an internet information outlet printed a report claiming that senior officers on the College of Abuja, together with the Vice-Chancellor, Professor Hakeem Fawehinmi, and different prime directors, had diverted funds from a NELFUND scholar mortgage bundle meant for indigent college students.
The report mentioned the college acquired about N256.1 million on January 29, 2026, supposed to cowl institutional charges for two,245 accredited beneficiaries within the 2025/2026 educational session. It alleged {that a} portion of these funds was lodged in interest-bearing accounts as a substitute of being totally credited to scholar accounts, and that many college students had been successfully shortchanged in consequence.
That on-line report additionally referenced an inner memo suggesting that college students who had not but paid their charges had been suggested to pay upfront after which search reimbursement, which critics interpreted as an indication of administrative confusion or mismanagement.
Extra insights
The Fund reiterated its dedication to defending the pursuits of eligible Nigerian college students and making certain that every one disbursements are utilized in accordance with the legislation.
It additionally said that it’s going to proceed to work collaboratively with associate establishments to uphold transparency, accountability and the integrity of the coed mortgage programme.
NELFUND inspired college students and the general public to channel inquiries or considerations via its official communication platforms for clarification.
What it is best to know
Recall that in 2025, the Unbiased Corrupt Practices and Different Associated Offences Fee started an in depth investigation after some retailers claimed that solely a small portion of the funds launched had reached college students and that enormous sums had been unaccounted for.
- The ICPC mentioned that whereas about N100 billion was reportedly launched for the programme, solely round N28.8 billion had been confirmed as disbursed to college students on the time, leaving a niche of about N71.2 billion that drew scrutiny from lawmakers and watchdogs.
- In response, NELFUND and its administration denied that any funds beneath the present scholar mortgage scheme had been mismanaged or lacking, insisting that figures circulating within the public referred to older financing programmes that predated the launch of the NELFUND portal in 2024.
- As of February 1, 2026, NELFUND has disbursed a complete of N183.89 billion beneath the scheme. Out of this quantity, N107.09 billion has been paid towards institutional charges, whereas N76.80 billion has been disbursed as repairs allowances to college students.
The Fund mentioned 265 establishments have benefited from the mortgage disbursement course of to date.
