The Nigerian Education Loan Fund, (NELFUND) has vowed to take action against sharp practices, adding that it is committed to ensuring its operation is fraud resistant.
The Fund stated this after partnering anti-corruption, military, paramilitary and other relevant agencies on whistleblowing and early warning systems, real-time data verification tools, joint audits and risk assessment models.
The partnership will also look at citizen awareness campaigns to educate the public on their rights and responsibilities under the loan scheme.
It expressed optimism that the collaboration will fortify its ecosystem against fraud, manipulation, or misuse as the Fund would tap into their expertise in compliance, enforcement, and digital forensics.
The Managing Director and Chief Executive Officer of NELFUND, Akintunde Sawyerr, said the Fund was committed to fighting corruption.
He stated this at a workshop with heads of anti-corruption agencies, military, paramilitary and other agencies on Friday, in Abuja.
The event marked the culmination of the 5-day Stakeholders’ Engagement Session, that brought together education administrators, vice chancellors and student union leaders, to align with a shared mission of building a student loan system that is transparent, efficient, and trusted by Nigerians.
Sawyerr, who described the participants as guardians of accountability, transparency, and national security, said there is a need for the partnership, explaining that it would strengthen the Fund’s “internal controls by co-developing mechanisms for due diligence, applicant verification, identity protection, and fund tracking.”
“As custodians of public trust, your institutions are vital to NELFUND’s long-term credibility and sustainability. Our objectives today are threefold: To fortify the NELFUND ecosystem against fraud, manipulation, or misuse by tapping into your expertise in compliance, enforcement, and digital forensics,” he said.
Sawyerr told the participants that over the past few months, NELFUND had made significant strides by designing a fully automated, data driven loan application and management system and engaging with over 400 institutions, including universities and polytechnics, to harmonize data, onboard student profiles, and test end-to-end digital workflows.
“We are on track to commence disbursements within the stipulated timelines, and we are committed to ensuring that every step is audit-compliant and fraud resistant.
“These milestones are not by accident they reflect deliberate planning, deep consultation, and our unwavering resolve to execute this national assignment with excellence,” he added.
He appealed to his guests for a collective and robust collaboration to ensure that no fraudulent actor, insider threat, or technical loophole is allowed to compromise the integrity of this noble initiative.
“As we close this week-long engagement, I am reminded that while policies may be written in government offices, their success is delivered by institutions and sustained by integrity.
“With your partnership, NELFUND can become a beacon of trust, a model of efficiency, and a flagship for the Renewed Hope Agenda, one where every Nigerian child, regardless of background, can dream boldly and achieve greatly,” he said.
Speaking, the Chief of Defence Staff,General Christopher Musa appealed to NELFUND to give priority attention to children of the fallen heroes in the loan scheme, considering the sacrifices of their parents to the service of the country.
General Musa,who was represented by Air. Commodore Friday Bassey, Deputy Director Training at Defence Headquarters, explained that children of the deceased officers were finding life unbearable, especially the pursuit of their education career because of the absence of their breadwinners in their lives while calling on NELFUND to give attention to them.
This, he noted would encourage officers to give in their best in their services to the nation.
