Student Loan: NELFUND partners security agencies to combat fraud
The Nigerian Education Loan Fund, NELFUND, has partners anti-corruption, military, paramilitary and other relevant agencies on whistleblower and early warning systems, real-time data verification tools, joint audits and risk assessment models as well as citizen awareness campaigns to educate the public on their rights and responsibilities under the loan scheme.
vowed action against sharp practices in its ecosystem, insisting that it was committed to ensuring all its steps were not only audit-compliant but also fraud resistant
This is coming as NELFUND vowed action against sharp practices in its ecosystem, insisting that it was committed to ensuring all its steps were not only audit-compliant but also fraud resistant.
The Fund expressed optimism that the collaboration will fortify its ecosystem against fraud, manipulation, or misuse as the Fund would tap into their expertise in compliance, enforcement, and digital forensics.
The Managing Director and Chief Executive Officer of NELFUND, Akintunde Sawyerr, declared his agency’s avowed commitment against corruption at a workshop with heads of anti-corruption agencies, military, paramilitary and other agencies, Friday, in Abuja.
The event marked the culmination of the 5-day Stakeholders’ Engagement Session, which brought together education administrators, vice chancellors, and student union leaders to align around a shared mission of building a student loan system that is transparent, efficient, and trusted by Nigerians.
Describing the participants as guardians of accountability, transparency, and national security, Sawyerr highlighted the need for the partnership, explaining that it would strengthen the Fund’s “internal controls by co-developing mechanisms for 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 by tapping into your expertise in compliance, enforcement, and digital forensics; To strengthen our internal controls by co-developing mechanisms for due diligence, applicant verification, identity protection, and fund tracking and to build sustainable frameworks for inter -agency collaboration, policy alignment, and joint public education on the consequences of abuse and the benefits of lawful access,” he explained.
