FG DENIES ALLEGED N71.2BN STUDENT LOAN FRAUD.

The Federal Government has denied allegations of fraud in the student loan scheme managed by the Nigeria Education Loan Fund (NELFUND). 

The Minister of Education Dr. Tunji Alausa, made this known the end of a meeting held with Vice Chancellors, officials of the National Universities Commission, ELFUND and the Federal Ministry of Education.

The Minister maintained that there's no evidence of fraud, but rather issues related to timelines.

The controversy arose after the Independent Corrupt Practices and Other Related Offences Commission (ICPC) announced plans to investigate alleged discrepancies in student loan disbursements, but Alausa, has clarified that ICPC later confirmed that their initial information was incorrect.

The government assured that the student loan scheme is being managed transparently, with N54 billion already disbursed to students.