The management of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, has strongly denied allegations linking the institution to illegal deductions from the Nigeria Education Loan Fund (NELFUND), as reported by The Guardian newspaper on Tuesday, April 29, 2025.
Reacting to the front-page report, which claimed that 51 universities were involved in the misappropriation of NELFUND allocations, LAUTECH described the publication as “malicious” and “irresponsible,” asserting that the institution has always handled the disbursement of NELFUND with transparency and strict compliance.
In a statement signed by the Deputy Registrar (Public and Alumni Relations), Mr. Olalekan Fadeyi, the university clarified that it has received only three tranches of funds from NELFUND and each disbursement was promptly and fully credited to verified student beneficiaries.
According to the statement, the breakdown of the fund releases includes:
N8,670,000 received on September 5, 2024
N83,916,000 received on November 1, 2024
N397,152,000 received on March 5, 2025
Fadeyi emphasized that none of the funds has been withheld or diverted. He also noted that the university went a step further by instructing the banks involved not to impose extra charges while crediting students’ accounts.
“It is therefore shocking and disappointing that a reputable newspaper like The Guardian could publish such a damaging claim without seeking clarification from the university,” the statement read.
LAUTECH has urged the media to uphold professional standards by verifying sensitive information before publication.
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