The Federal Government on Wednesday refuted claims of fraud in the student loan scheme. According to DAILY POST, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) had earlier revealed plans to probe alleged discrepancies in the disbursement of loans under the Nigeria Education Loan Fund (NELFUND). The ICPC stated that preliminary findings showed that although N100 billion was released for the scheme, only N28.8 billion reached students, leaving N71.2 billion unaccounted for. In reaction, the National Association of Nigerian Students threatened to stage a nationwide protest over the alleged shortfall. However, speaking on the issue on Wednesday, Minister of Education, Dr. Tunji Alausa, insisted that no fraud had been uncovered in the scheme. He made this clarification following a meeting with Vice Chancellors, officials from the National Universities Commission, NELFUND, and the Federal Ministry of Education. The minister dismissed the ICPC’s statement as inaccurate. “Let me start by saying that there is no fraud in NELFUND. ICPC reported that the information was not correct. There is no fraud in NELFUND; we have issues that have to do with the timeline,” he said.