The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has clarified that there are no discrepancies in the disbursement of student loans by the Nigeria Education Loan Fund (NELFUND).
In a statement issued Thursday, ICPC spokesperson Demola Bakare explained that a typographical error in an earlier press release had created confusion about the investigation’s status.
“Unintentionally, the word ‘NOT’ was missing in the second-to-last paragraph of our earlier press release in respect of an ongoing investigation regarding the Student Loan Scheme,” Bakare said. “The missing word created an erroneous impression that the alleged discrepancies or diversion has been established.”
The commission emphasised that its investigation is still in preliminary stages, having only established the total amount of funds received and disbursed by NELFUND.
“The impression of diversion and the issue of discrepancies do not exist at this stage; the investigation would have to move into the receiving institutions and persons before any reasonable deductions could be made,” the statement added.
The investigation was prompted by media reports alleging that 51 tertiary institutions were involved in illegal deductions related to the NELFUND scheme.
The ICPC plans to continue its investigation by examining beneficiary institutions and individual student recipients before drawing any conclusions about the program’s administration.
