The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has clarified that there are currently no discrepancies in the student loan disbursements made by the Nigeria Education Loan Fund (NELFUND).

In a statement released on Thursday by ICPC spokesperson Demola Bakare, the agency explained that an error in a previous release — specifically, the omission of the word “not”—mistakenly suggested that discrepancies had been found in the loan disbursement process.

Earlier in the day, Bakare had issued a statement titled “ICPC Launches Comprehensive Investigation into Discrepancies in Student Loan Disbursement,” citing a media report alleging that 51 tertiary institutions were involved in irregular deductions and exploitation linked to the NELFUND scheme. That statement claimed that the ICPC had confirmed discrepancies in the student loan administration and would extend its investigation to the institutions and student recipients.

However, in a follow-up clarification, Bakare stated that the omission of “not” in the second-to-last paragraph of the original release inadvertently contradicted the document’s overall message. He emphasized that the commission has so far only confirmed the total amount of funds received and disbursed by NELFUND and that further investigation into the receiving institutions and students is required before any conclusive findings can be made.

Bakare acknowledged the error and stressed that the suggestion of diversion or discrepancies is unfounded at this stage, as the investigation is still ongoing.