The Nigerian Education Loan Fund (NELFUND) is developing a centralised job portal to connect loan beneficiaries with employment opportunities both within and outside Nigeria.
Managing Director of NELFUND, Akintunde Sawyerr, revealed this today at a media engagement in Abuja to mark one year of the scheme’s launch. He noted that while NELFUND does not guarantee jobs, the portal will aggregate vacancies from public, private, and international employers.
“We don’t just give a loan and leave students on their own,” Sawyerr said. “This job portal is our way of supporting their journey toward economic stability.”
Sawyerr reiterated that loan repayment only begins after employment is secured, and only after the National Youth Service Corps (NYSC). “If you don’t have a job, you don’t pay,” he stressed. “Once employed, 10 per cent of the beneficiary’s monthly salary is deducted automatically by the employer and remitted to NELFUND.”
He added that repayment pauses if the beneficiary is laid off or resigns, and the loan is written off in the event of death. “The family is not harassed,” he assured.
On complaints about students being denied refunds after NELFUND covered their fees, Sawyerr condemned the actions of some institutions. “It’s disappointing that some schools have ignored this responsibility,” he said. “They have a moral and professional duty to return this money.”
He confirmed that anti-corruption agencies like the ICPC and EFCC are probing institutions that delay refunds. “If they can’t pay the student, they should return the funds to us—we will handle the disbursement,” he stated.
Executive Director of Operations, Mustapha Iyal, said NELFUND currently manages 3.2 million student records and projects 1 million new applications before the end of 2025. “We aim to ensure no student drops out due to financial hardship,” he said.
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