ICPC: No discrepancies in student loan disbursement by NELFUND

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says there are no discrepancies in the disbursement of student loan by the Nigeria Education Loan Fund (NELFUND).

The ICPC spokesperson, Demola Bakare, made this known in a statement on Thursday, May 1, 2025.

Bakare said the absence of “not” in a statement issued earlier by the ICPC created an erroneous impression that the alleged discrepancies in the disbursement of student loan by NELFUND.

Bakare stated: “We admit that this is not the case, indeed we accept that the same part of the sentence also contradicted the whole paragraph.

“The paragraph ought to read: ‘The ICPC confirmed that a clear case of discrepancies has NOT been established in the administration of the student loan scheme and announced that its investigation will now extend to beneficiary institutions and individual student recipients’.”

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The ICPC spokesman noted that the commission has only established the total amount of funds received and disbursed so far by NELFUND.

Bakare added: “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.

“It is hereby reiterated that the commission does not engage in media trials nor does it usurp the power of the judiciary to indict persons or organisations.

“The general public is urged to exercise patience as thorough investigations require time and ample resources.

“The earlier error, though already corrected on our website, is regretted. Our investigations are still ongoing, and there are no indictments yet!”

The Star