The Managing Director of the Nigeria Education Loan Fund (NELFUND), Akintunde Sawyerr, has denied allegations of a missing N71 billion in the institution.
Speaking on Sunday Politics, a Channels TV programme, Sawyerr said the claim is “inaccurate” and “misleading”.
Sawyerr explained that NELFUND has received N203 billion, comprising N10 billion from the Office of the Minister of Finance, N50 billion from the EFCC’s Proceeds of Crime, and N143 billion from TETFund.
“The Nigeria Education Loan Fund has received about N203 billion. N10 billion from appropriation from the Office of the Minister of Finance through the Office of the Accountant General, N50 billion from the EFCC, from the Proceeds of Crime, and N143 billion from TETFund.”
He stated that N54 billion has been disbursed, with N30 billion going to institutions and N24 billion for upkeep.
The MD assured that the balance of N149 billion remains in NELFUND’s account with the Central Bank of Nigeria.
He emphasised that there is no missing money in the Fund, which aims to provide tertiary education opportunities for Nigerian children to compete globally.
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