No discrepancies in student loan disbursement by NELFUND- ICPC

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) admitted an inadvertent noise in its channel of communication that conveyed the wrong message of discrepancies in student loan disbursement by the Nigeria Education Loan Fund (NELFUND).

The ICPC spokesperson, Demola Bakare, in a statement issued on Thursday, May 1, 2025, to cure the mischief that escaped in the earlier statement, said there were, in fact, no discrepancies in the disbursement of student loan by NELFUND.

Bakare said the absence of “not” in a statement issued earlier by the ICPC created an erroneous impression of 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.

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“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’.”

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 [sic] 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!”