Abuja, Nigeria – The Nigerian Education Loan Fund (NELFUND) has sounded a strong warning to tertiary institutions allegedly concealing student loan disbursements while still demanding fees from unsuspecting students.
In a statement issued by NELFUND’s Managing Director and Chief Executive Officer, Mr. Akintunde Sawyerr, the agency condemned what it described as a “deceptive and unethical practice” by some institutions that fail to inform students after receiving loan payments directly into their accounts.
“This act of withholding critical financial information from students is not only unethical but a direct violation of the principles upon which NELFUND was established,” said Sawyerr. “We will not hesitate to take legal action against any institution found engaging in such deceptive practices.”
NELFUND revealed it had uncovered several instances where students, despite qualifying and being approved for the government-backed loan scheme, were still pressured to pay school fees because institutions failed to update their payment records or notify them of disbursements.
The agency reaffirmed its commitment to expanding access to higher education in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda, stressing the importance of institutional transparency.
“NELFUND exists to ensure no eligible Nigerian is denied the opportunity to pursue higher education due to lack of funds. We urge institutions to support this noble cause and avoid any actions that could undermine public trust,” Mr. Sawyerr added.
As the student loan scheme gains momentum nationwide, NELFUND urged students to report any discrepancies and assured the public of its dedication to fairness, accountability, and the successful rollout of the initiative.
Gom Marian-Report
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