Tunji Alausa Refutes NELFUND Fraud Allegations

• Alausa addressed the controversy surrounding NELFUND following a high-level meeting with Vice Chancellors
• Preliminary findings by the commission suggest that out of the N100 billion allocated by the Federal Government for the scheme
• “There is no fraud in NELFUND; what we have are issues that have to do with the timeline.”

Dr. Tunji Alausa, Nigeria’s Minister of Education, firmly denied allegations of fraud in the Nigeria Education Loan Fund (NELFUND) on Wednesday, asserting that recent claims of financial discrepancies made by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) are unfounded.

Eko Hot Blog reports that Alausa addressed the controversy surrounding NELFUND following a high-level meeting with Vice Chancellors, representatives of the National Universities Commission (NUC), NELFUND officials, and other Federal Ministry of Education stakeholders.

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“Let me start by saying that there is no fraud in NELFUND,” Alausa stated. “ICPC reported that the information was not correct. There is no fraud in NELFUND; what we have are issues that have to do with the timeline.”

The response follow recent allegations of financial discrepancies in NELFUND, where the ICPC initiated a detailed investigation into suspected inconsistencies in the disbursement process of student loans.

Preliminary findings by the commission suggest that out of the N100 billion allocated by the Federal Government for the scheme, only N28.8 billion has reached the intended beneficiaries, with N71.2 billion unaccounted for.

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As a result, the National Association of Nigerian Students (NANS) has announced plans to stage protests in response to the alleged misappropriation of funds, voicing concerns and demands for transparency and accountability in the management of education funds.

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