By Ghazali Ibrahim 
The management of Yaba College of Technology (YABATECH) has firmly denied allegations that it was involved in illegal deductions from the Nigerian Education Loan Fund (NELFUND) disbursed to its students, distancing itself from the growing scandal that recently rocked several tertiary institutions, including the University of Ilorin.
YABATECH’s Public Relations Officer, Mr. Adekunle Adams, described the claims as baseless and aimed at tarnishing the image of the institution.
The school was among over 50 institutions accused by NELFUND and the National Orientation Agency (NOA) of shortchanging students by deducting between N3,500 and N30,000 from their allocated institutional fees without transparency or disclosure.
Responding to the allegations, Adams said: “The College has not received any funds from NELFUND in its account, and as such, the claim of deductions or withholding disbursements is false. The Central Bank of Nigeria has verified our bank statements, and there is no record of any such payment to YABATECH.”
He further explained that a senior college official visited the CBN headquarters on April 30, 2025, to trace the inflow, only to return with confirmation that the funds were yet to hit the college’s account.
“The disbursement to the college is still under verification by the CBN, and payment to students can only begin once funds are received and properly reconciled with the verified list of beneficiaries,” he added.
Adams emphasized that YABATECH remains committed to transparency and due process in all financial matters, asserting that any refund or disbursement would only be made in compliance with federal accounting regulations and after official confirmation of the funds.
While assuring students that no underhand dealings have occurred, he appealed for patience, stating: “The college will commence appropriate refunds once the payments are received and verified. There must be cash backing for any transaction to occur.”
YABATECH’s statement comes on the heels of mounting scrutiny over NELFUND’s first phase of disbursements, which has seen accusations of “deceptive practices” against several Nigerian higher institutions.
