By Peter Omopo
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has clarified that there are no established discrepancies in the disbursement of student loans by the Nigeria Education Loan Fund (NELFUND).
The clarification, issued on Thursday by ICPC spokesperson Demola Bakare, followed confusion arising from a previous statement that appeared to allege irregularities in the scheme. The ICPC attributed the misunderstanding to a typographical error—the omission of the word “not” in the penultimate paragraph of its earlier press release.
Earlier in the day, the commission had issued a statement titled “ICPC Launches Comprehensive Investigation into Discrepancies in Student Loan Disbursement,” referencing a media report that alleged illegal deductions and exploitation by 51 tertiary institutions under the NELFUND scheme.
That statement appeared to confirm the existence of discrepancies, sparking widespread reactions and raising concerns about the integrity of the student loan system.
However, in the revised clarification, Bakare explained that the commission had merely verified the amounts received and disbursed by NELFUND, and that investigations were still ongoing into the institutions and individuals who received the funds.
“The commission has only established the total amount of funds received and disbursed so far by NELFUND,” he stated. “The next line of investigation to the receiving institutions and persons would be completed before any reasonable deduction can be made.”
The ICPC urged the public to disregard earlier reports suggesting confirmed fraud or mismanagement, noting that its findings remain preliminary at this stage.
