Student loan: no =N=71bn is missing, NELFUND insists

The Nigerian education loan fund (NELFUND), an intervention agency set up by the federal government has again denied that an estimated =n=71bn of student loans was stolen.

The managing director of Nelfund, Akintunde Sawyerr, made the clarification on Sunday when featuring on a Channels Tv Programme, politics todays.  

The independent corrupt practices and other related offences commission (ICPC) had announced last week that it has commenced a comprehensive investigation into the alleged discrepancies surrounding the disbursement of student loans under NELFUND.

The commission said its preliminary findings revealed that while the Federal Government released =n=100 billion for the scheme, only =n=28.8 billion was disbursed to students, leaving =n=71.2b unaccounted for… 5. As rockcity had reported, NELFUND denied the alleged fraud last week and ICPC later backtracked its claims. However, a meeting is scheduled for tomorrow between the minister of education, varsity VCS and NELFUND