Chief Executive Officer of the Nigeria Education Loan Fund, NELFUND, Akintunde Sawyerr, has insisted that no money is missing from the student loan scheme.
There was controversy last week when the Independent Corrupt Practices Commission, ICPC, had raised an alarm over alleged discrepancies and missing funds in the student loan programme amounting to N71 billion.
Although the ICPC admitted error in accusing NELFUND of misappropriation, the disclosure has, however, continued to set tongues wagging.
But speaking during an interview on Channels TV, Mr Sawyerr said the fund has a clean bill of health.
“We are all looking for this so-called money. First of all, let me be very clear. No money has been stolen. The president, in his wisdom and well-intentioned programme, decided that he was going to set up the Nigeria Education Loan Fund,.
“But let me go back and just continue to correct this misconception. No N71bn is missing,” Mr Sawyerr insisted.
“So the funds that we’ve been given are to bridge the gap for those who don’t have the money to be able to attain the education. No money is missing. No money has been stolen. There had been some issues with what happened at this phase, where human intervention comes in.
“No money is missing. No money has been stolen. There’d be some issues with what happens at this phase, where human intervention comes in,” the NELFUND boss said.
Responding to a complaint by some students over the delay in payment, Mr Sawyerr said: “Let me correct a misconception there. There is no disbursement from the NELFUND account through the schools to the students.
“The NELFUND money goes to the schools for their tuition or institutional charges. The schools are supposed to give unfettered access to the students for classes.
“The schools do not disburse to the students, except in the case where the student has already paid their fees, in which case there has been a double payment,” he said.
“So there’s a very careful, meticulous investigation going on to try to understand where this is happening and how it’s happening,” NELFUND added.
