…Partners with Anti-Corruption Agencies, Military, Others to Fortify Ecosystem

By Joseph Erunke, Abuja

The Nigerian Education Loan Fund (NELFUND) has reaffirmed its commitment to audit compliance and fraud resistance within its operations.

The declaration was made as the agency announced strategic partnerships with anti-corruption agencies, the military, paramilitary, and other relevant bodies to enhance its ecosystem against fraud and manipulation.

NELFUND’s strategy includes collaborations focused on whistleblower and early warning systems, real-time data verification tools, joint audits, risk assessment models, and citizen awareness campaigns to educate the public about their rights and responsibilities under the loan scheme.

The agency’s Managing Director and CEO, Akintunde Sawyerr, expressed confidence that these collaborations would strengthen the Fund’s resilience against fraud and misuse by leveraging the expertise of its partners in compliance, enforcement, and digital forensics.

Sawyerr made these remarks during a workshop held in Abuja, which marked the conclusion of a 5-day Stakeholders’ Engagement Session. The event brought together education administrators, vice-chancellors, and student union leaders to align on building a transparent, efficient, and trusted student loan system for Nigerians.

Describing the participants as “guardians of accountability, transparency, and national security,” Sawyerr emphasized the importance of partnership in enhancing NELFUND’s internal controls through due diligence, applicant verification, identity protection, and fund tracking.

“As custodians of public trust, your institutions are vital to NELFUND’s long-term credibility and sustainability. Our objectives today are threefold: to fortify the NELFUND ecosystem against fraud, manipulation, or misuse; to strengthen internal controls with co-developed mechanisms for verification and fund tracking; and to build sustainable frameworks for inter-agency collaboration, policy alignment, and joint public education,” he explained.

Sawyerr also highlighted NELFUND’s role in the realization of President Bola Ahmed Tinubu’s Renewed Hope Agenda, describing the student loan scheme as a “social contract” aimed at eliminating poverty-induced barriers to education.

“Access without integrity breeds inefficiency. Expansion without oversight invites exploitation. That is why today’s engagement is so critical,” he stated. He added that integrity goes beyond the absence of corruption, emphasizing the need for “systems, partnerships, and culture that prevent malfeasance before it occurs.”

The NELFUND CEO shared that the agency had achieved significant progress, including the design of a fully automated, data-driven loan application and management system. He disclosed that over 400 institutions, including universities and polytechnics, have been engaged to harmonize data, onboard student profiles, and test end-to-end digital workflows.

“We are on track to commence disbursements within the stipulated timelines, and we are committed to ensuring that every step is audit-compliant and fraud resistant,” he added.

Sawyerr urged for robust collaboration to ensure that “no fraudulent actor, insider threat, or technical loophole” compromises the initiative’s integrity.

“With your partnership, NELFUND can become a beacon of trust, a model of efficiency, and a flagship for the Renewed Hope Agenda—one where every Nigerian child, regardless of background, can dream boldly and achieve greatly,” he concluded.

In his remarks, the Chief of Defence Staff, General Christopher Musa, represented by Air Commodore Friday Bassey, appealed to NELFUND to prioritize children of fallen heroes in the loan scheme. He noted that these children face hardships in pursuing their education due to the loss of their breadwinners.

“This consideration would encourage officers to serve the nation with greater commitment,” he added.