The Nigerian Education Loan Fund (NELFUND) has issued a strong warning to tertiary institutions across the country, cautioning them against any breach of the conditions governing the disbursement of student loan funds.
At a stakeholder meeting held in Abuja with heads of Colleges of Education, Agriculture, Health, and Nursing, the Managing Director of NELFUND, Mr Akintunde Sawyerr, stressed that any act of sabotage or illegal financial demand from beneficiaries of the Federal Government’s student loan scheme would be treated as a criminal offence.
Sawyerr stated unequivocally that while NELFUND is not statutorily empowered to discipline or remove institutional heads, any misconduct detected will be escalated to the Federal Ministry of Education or relevant law enforcement agencies for appropriate action.
“The Fund is committed to covering all institutional registration charges that enable students to access academic services, including lectures, tutorials, and examinations,” he said. “We will not tolerate situations where students are asked to make payments after funds have already been disbursed on their behalf.”
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He revealed that 303 institutions had so far received payments for more than 293,000 students nationwide. According to him, no student should be made to pay out-of-pocket where NELFUND has already fulfilled the financial obligation.
“This is not a refund scheme,” he warned. “Any school that demands fees from students after receiving NELFUND payments is engaging in an illegal act. Such actions amount to economic sabotage and will be treated accordingly.”
Sawyerr further disclosed that investigations into cases of extortion and irregularities were ongoing, in collaboration with the National Orientation Agency (NOA), the Federal Ministry of Education, and NELFUND’s internal compliance units.
He thanked members of the public and stakeholders for their vigilance and continued feedback, reaffirming NELFUND’s commitment to transparency and accountability in ensuring equitable access to higher education.
“President Bola Ahmed Tinubu’s vision to make education accessible must not be derailed by selfish interests,” he concluded.
