The Nigerian Education Loan Fund (NELFUND) has issued a directive to all tertiary institutions mandating the refund of tuition fees for students who were verified prior to loan disbursement. This initiative seeks to ensure that no verified student is impeded from participating in academic activities, including examinations, due to unpaid tuition.
Akintunde Sawyerr, the Managing Director and CEO of NELFUND, stressed the importance of compliance from universities, polytechnics, and other educational institutions to uphold their agreements with the agency, which is essential for a smooth operation of the loan scheme. He noted that adherence to this directive would help address numerous complaints from beneficiaries.
As of last evening, NELFUND’s records indicated that 597,337 students had registered for the loan, with 547,954 completing their applications. The agency has allocated N54 billion in funding to support students.
At a recent sensitization event at the University of Lagos (UNILAG), Sawyerr expressed his approval of the university’s initiative to start refunding fees to students who had previously paid. With Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications, representing him, he clarified that this directive extends beyond UNILAG to all institutions that have collected fees for students under the loan scheme.
He reiterated the obligation of tertiary institutions not to restrict students from academic participation due to unpaid tuition, especially for those verified under the loan scheme, as outlined in their memorandum of understanding with NELFUND.
Sawyerr emphasized the necessity of continued awareness campaigns on campuses to improve student engagement with the loan programme and encouraged beneficiaries who plan to emigrate to honour their loan commitments after relocating.
UNILAG Vice-Chancellor Folasade Ogunsola, represented by Dean of Student Affairs Musa Obalola, assured students awaiting refunds that the process is in its final stages, advising them to provide correct bank details for prompt refunds next week. She attributed previous payment discrepancies to a misalignment between NELFUND’s disbursement timeline and the university’s academic schedule, commending the federal government for the loan scheme, which she described as a significant advancement in ensuring access to quality education.
Wale Ogunleye, NELFUND’s Head of IT, reported that among the 7,112 registered UNILAG students, 5,566 received approval and disbursements were made to 4,636. Addressing concerns about alleged fraud in loan disbursement, Sawyerr, represented by Zino Ugboma, reaffirmed the agency’s commitment to transparency and the ongoing effort to improve the system, urging stakeholders to work collaboratively to enhance the programme for the benefit of all Nigerians.
