The Minister of Education, Dr. Tunji Alausa, has exonerated the Nigerian Education Loan Fund (NELFUND) of fraudulent activities.

Alausa disclosed this on Wednesday after a high-level meeting held in Abuja, which included vice-chancellors, officials from the National Universities Commission (NUC), representatives of NELFUND, and key members of the Ministry of Education.

The Minister stated that a thorough investigation conducted following allegations of fund mismanagement revealed no evidence of sharp practices within NELFUND.

He also faulted the claims made by the Independent Corrupt Practices Commission (ICPC) regarding the alleged discrepancies in the student loan disbursement process. According to Alausa, the anti-graft agency’s public statement on the matter was misleading and unsubstantiated.

Earlier, the ICPC had released a statement claiming that its investigation into the disbursement of student loans by NELFUND revealed that the agency had indeed allocated all the funds intended for student loans.

The Minister’s comments now lay to rest the concerns surrounding NELFUND’s operations, reaffirming the agency’s commitment to transparent and accountable student loan disbursements.