The Federal University Oye-Ekiti, FUOYE, Ekiti State, Nigeria has denied claims that it was involved in illegal deduction of funds from students’ loans disbursed by the Nigerian Education Loan Fund, NELFUND.
Speaking on behalf of the institution, Public Relations Officer, Mr. Foluso Ogunmodede, dismissed the allegations, describing them as false and an attempt to tarnish the university’s reputation.
According to him, the university never engaged in any exploitation of students or unauthorized deductions from the disbursed loans.
FUOYE was listed among over 50 institutions accused by NELFUND and the National Orientation Agency, NOA, of making illegal deductions from students’ institutional fees—ranging from ₦3,500 to ₦30,000—after receiving government funds.
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The agencies accused the institutions of deceptive practices and withholding disbursement records.
But Ogunmodede refuted the allegations, stating that the Central Bank of Nigeria, CBN, had not traced any illegal NELFUND payments to the university’s accounts.
According to him, every financial procedure must be properly followed before any payments or refunds would be made.
He said: “Once the payment enters our account and is reconciled with the list of beneficiaries, we will begin refunds immediately even as none of our fees structure is N124k. The allegation is false and nobody has contacted us.”
