NELFUND: ICPC Denies Discrepancies in Student Loan Disbursement, Attributes It to a Typographical Error

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

In a statement issued on Thursday, ICPC spokesperson Demola Bakare explained that a typographical error in an earlier release led to a misinterpretation suggesting irregularities in the loan scheme.

The missing word “not” in the second-to-last paragraph of the original statement gave the false impression that the commission had uncovered discrepancies or diversion of funds.

The statement reads,

“Urgent Clarification and Admission of Error

Unintentionally, the word “NOT” was missing in the second to the last paragraph of our earlier press release in respect of an ongoing investigation regarding Student Loan Scheme. The missing word created an erroneous impression that the alleged discrepancies or diversion has been established. “

“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

For avoidance of doubts, the Commission has only established the total amount of funds received and disbursed so far by NELFUND.
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. However, persons with information of value are encouraged to reach out to the Commission through info@icpc.gov.ng

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

Demola Bakare fsi anipr.” [CONTINUE READING HERE]>>>>>