No naira missing from NELFUND, all transactions traceable — NELFUND boss

The Managing Director of the Nigerian Education Loan Fund, Akintunde Sawyerr, has dismissed allegations of financial misappropriation within the agency, The Nation reports.

Speaking on Arise News, Sawyerr said there was no evidence of misappropriation, noting that all disbursements were made electronically and fully traceable from the Central Bank of Nigeria to institutions or students’ accounts.

He cited a recent transfer of over ₦1 billion to the University of Ibadan as proof of transparency. Sawyerr also linked NELFUND’s funding to subsidy removal, dismissing opacity claims as “a little bit extreme” and possibly mischievous.