Stop withholding loan disbursement information from students – NELFUND tells institutions

The Nigerian Education Loan Fund (NELFUND) has cautioned tertiary institutions against the unethical practice of withholding disbursement information from students whose fees have already been paid directly to the schools through the student loan scheme.

Managing Director of NELFUND, Mr Akintunde Sawyerr, issued the warning in a statement personally signed and released in Abuja on Thursday. He expressed concern over findings that some institutions, despite receiving funds directly into their accounts, have failed to inform affected students or update their school records accordingly, thereby causing confusion and distress.

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“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,” Sawyerr said, adding that the Fund would not hesitate to take legal action against any institution found engaging in such deceptive conduct.

He reaffirmed that NELFUND’s core mission is to broaden access to tertiary education by easing financial burdens, in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda. He stressed the need for institutions to demonstrate transparency and work in partnership with the Fund to ensure the efficient delivery of its mandate.

“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 or deny students their rightful support,” he stated.

The Fund assured students and the wider public of its unwavering commitment to fairness, accountability, and the effective implementation of the student loan scheme nationwide.

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