NELFUND dismisses claims of student loan repayment directive
By Uji A Iliyasu, Abuja
The Nigerian Education Loan Fund (NELFUND) has dismissed as false and misleading reports suggesting that beneficiaries of the NELFUND student loan scheme have been directed to commence repayment.
In a statement issued on Friday by
Director, Strategic Communications,
Nigerian Education Loan Fund (NELFUND, Mrs. Oseyemi Oluwatuyi, the Fund clarified that no repayment directive has been issued to students, describing the circulating claims as unfounded and capable of causing unnecessary anxiety among beneficiaries.
NELFUND’s clarification follows a statement by the Vice Chancellor of the University of Benin (UNIBEN), Prof. Edoba Bright Omoregie (SAN), who disowned a purported circular allegedly detailing repayment procedures for NELFUND loans. The University confirmed that the document did not originate in UNIBEN and that no such repayment guideline has been issued by NELFUND or the Federal Government.
“For the avoidance of doubt, NELFUND has not instructed any student to begin repayment of their loan,” the statement said.
The Fund explained that the repayment structure is clearly provided for in the NELFUND Establishment Act. Under the law, beneficiaries are not required to repay while still in school, repayment is not expected from graduates who remain unemployed, and repayment only begins after beneficiaries secure gainful employment, in line with statutory provisions.
NELFUND reaffirmed its commitment to expanding access to higher education through transparent, fair, and student-friendly financing. It stressed that all official information regarding loan administration and repayment would be communicated only through verified NELFUND channels and recognised government platforms.
The Fund urged students, parents, institutions, and the general public to disregard the fake circular and refrain from spreading unverified information.
NELFUND also reassured beneficiaries of its dedication to due process, accountability, and the welfare of Nigerian students.