​As of now, there is no public record indicating that the Independent Corrupt Practices and Other Related Offences Commission (ICPC) is investigating ₦71 billion in unaccounted funds related to the Nigerian student loan program.However, the ICPC has been actively involved in addressing financial misconduct in the education sector.​

For instance, the ICPC has charged contractors associated with the Tertiary Education Trust Fund (TETFund) for allegedly diverting ₦2.2 billion intended for student training programs. These funds were reportedly misused, with some being converted into personal assets such as luxury vehicles and foreign currencies.

Regarding the Nigerian Education Loan Fund (NELFUND), the agency has disbursed significant amounts to support students. As of September 2024, NELFUND reported disbursing ₦84.2 billion, comprising ₦27.5 billion for institutional facilities and ₦56.7 billion for student upkeep . To ensure transparency and accountability, NELFUND collaborates with agencies like the ICPC, EFCC, and NFIU .​

While there is no specific mention of a ₦71 billion discrepancy, the ICPC continues to monitor and investigate financial activities within the education sector to prevent and address corruption.​