It’s criminal for any institution to hoard student loan information — NELFUND
By Uji A. Iliyasu, Abuja
The Managing Director of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, has stated that any institution withholding information about the disbursement of student loans from beneficiaries is engaging in criminal activity. Sawyerr made the remark during an interview with journalists in Abuja on Wednesday, the third day of a stakeholders’ engagement workshop focused on NELFUND system automation and loan application processes.
The session, held specifically for provosts and officials of Colleges of Education across Nigeria, addressed challenges faced by students in accessing the loan. Sawyerr emphasized that institutional management must act promptly once funds are received, ensuring that students benefit without delay.
“The issue lies with the management,” Sawyerr stated. “If you receive money on Monday, students should be notified and given access by Tuesday. Students should not be left waiting for weeks, months, or even a year before they are informed that they can attend classes.”
Sawyerr stressed that students should not be asked to pay additional charges after NELFUND has settled all institutional fees. “No institution should claim that certain charges are not covered by NELFUND. Our directive is clear — once we pay all institutional charges, students must gain full access to classes, tutorials, seminars, exams, and field trips without paying a single extra naira,” he said.
He added that NELFUND has so far disbursed funds to 303 institutions on behalf of 293,000 students. “We currently have over 500,000 students who have successfully applied, although not all have been approved. In total, 570,000 students have registered. We inform both the students and the institutional management on how the scheme operates, ensuring clarity and transparency.”
Sawyerr further highlighted the broader objective of the student loan scheme, launched under the leadership of President Bola Ahmed Tinubu, to remove financial barriers to tertiary education for all Nigerian students, regardless of their background.
“For Colleges of Education, the mission is especially significant. You are training the educators who will shape future generations,” Sawyerr said. “Integrating your institutions and students into the NELFUND ecosystem amplifies the reach of education and fosters long-term national development.”