NELFUND warns institutions against violating student loan terms
By Uji A. Iliyasu, Abuja
The Nigerian Education Loan Fund (NELFUND) has issued a stern warning to institutions that contravene the terms and conditions associated with funds disbursed on behalf of students. The fund emphasized that while it lacks statutory authority to suspend, remove, or expel erring institutional heads, any identified illegalities will be reported to the Minister of Education for administrative action.
Speaking at the third day of a stakeholders’ meeting with Heads of Colleges of Education, Agriculture, Health, and Nursing in Abuja, NELFUND’s Managing Director, Akintunde Sawyer, stated that the fund’s primary commitment is to cover all registration charges, ensuring students gain uninterrupted access to classes, lectures, tutorials, and examinations.
Sawyer noted that 303 institutions have received funds on behalf of 293,000 students under the loan scheme. He explained that the loan disbursement process is aligned with established criteria, including JAMB, NIN, BVN, and matriculation numbers.
“The mandate of NELFUND is to settle all registration charges. Once we have paid, students must have immediate access to education. We do not want students to be asked for additional payments because a school claims not to have received funds when we have already disbursed them,” Sawyer said.
Sawyer warned that any institution demanding further payments from students after receiving NELFUND funds is committing a serious offence, which may attract criminal prosecution. “This is not a refund issue. If a student has paid after NELFUND has already settled the charges, it is a criminal act,” he stated.
He further clarified that while NELFUND does not have direct sanctioning powers, it will escalate cases of criminality to the Minister of Education and relevant law enforcement agencies. “We cannot punish students by withholding funds for the next session as a sanction against schools. The minister is determined to ensure that President Bola Tinubu’s initiative to provide accessible education is not undermined by selfish interests,” Sawyer added.
Addressing concerns raised by the public, Sawyer revealed that investigations into alleged infractions by institutions are ongoing. He disclosed that the National Orientation Agency (NOA), NELFUND, and the Federal Ministry of Education have each launched separate investigative panels to address the matter.
“The NOA, NELFUND, and the Ministry of Education are conducting comprehensive investigations. We will ensure that the necessary actions are taken against any institution found guilty of violating the loan scheme guidelines,” he said.