The Managing Director and Chief Executive of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, has issued a strong warning to tertiary institutions that fail to inform students about loan disbursements made on their behalf while still demanding tuition payments from them.
According to recent findings, some institutions have received student loan funds directly into their accounts but failed to reflect these payments in students’ fee records or communicate the disbursement, leading to confusion and unnecessary financial stress for students.
“This practice of withholding vital financial information is unethical and goes against the very principles NELFUND was created to uphold,” Mr. Sawyerr stated. “We will not hesitate to take legal action against any institution found engaging in such misconduct.”
He emphasized that NELFUND’s mission is to expand access to higher education by easing financial burdens on students and their families—aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Mr. Sawyerr called on all institutions to embrace transparency and partner with the Fund to ensure the smooth and effective implementation of the student loan program.
“NELFUND exists to guarantee that no eligible Nigerian is denied a chance at higher education due to financial limitations. We urge institutions to support this cause and refrain from any actions that could damage public trust or deny students their rightful benefits,” he added.
NELFUND reiterated its commitment to accountability, fairness, and the successful rollout of the loan scheme nationwide.
Signed:
Akintunde Sawyerr
Managing Director/Chief Executive
NELFUND
