• 22 May, 2025
• FAITH MIMDOO KEGH
• No comment

NELFUND Orders Tuition Refund for Verified Student Loan Beneficiaries.

The Nigerian Education Loan Fund (NELFUND) has directed all tertiary institutions to refund tuition fees paid by students who were verified and approved for loans before the disbursement was completed.

NELFUND also emphasized that verified students should not be prevented from participating in academic activities or examinations due to unpaid tuition, as their fees are covered by the student loan scheme.

According to NELFUND’s Managing Director/CEO, Akintunde Sawyerr, institutions must uphold the terms of their agreements with the agency to ensure smooth implementation of the programme. He noted that compliance would help resolve many of the issues raised by loan recipients.

As of the evening of May 21, nearly 600,000 students had registered on the NELFUND portal, with over 547,000 having completed their loan applications.

Speaking during a sensitisation visit to the University of Lagos (UNILAG), Sawyerr—represented by the agency’s Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi—confirmed that UNILAG had begun refunding students who had initially paid fees out-of-pocket. She clarified that the directive applies nationwide to any institution that has received tuition payments for students under the loan scheme.

UNILAG Vice-Chancellor, Prof. Folasade Ogunsola, represented by Dean of Student Affairs, Dr. Musa Obalola, reassured students that all pending refunds were being processed and encouraged them to provide accurate banking details for prompt payment. She explained that the delay stemmed from a mismatch between NELFUND’s disbursement timeline and the university’s academic calendar.

Ogunsola described the student loan programme—offered at zero interest—as a transformative initiative for higher education in Nigeria, especially for financially constrained students.

During the session, NELFUND’s Head of Information Technology, Wale Ogunleye, reported that out of 7,112 registered UNILAG applicants, 5,566 had been approved, and 4,636 had already received disbursements.

At the University of Port Harcourt (UNIPORT), NELFUND reaffirmed its commitment to transparency in loan disbursements amid concerns of fraud. Representing the agency, Director of Administration Zino Ugboma urged stakeholders to focus on refining the system and warned against misinformation.

UNIPORT Vice-Chancellor, Prof. Owunari Georgewill, acknowledged that cultural attitudes in the South-South and South-East regions had affected uptake of the loan scheme. He suggested rebranding the loan as a “repayable grant” to ease parental concerns. Despite having over 40,000 students, only 1,800 at UNIPORT are currently benefiting from the scheme, partly due to the relatively affordable tuition of N78,000 per year.

NELFUND also conducted a sensitisation session at Ignatius Ajuru University of Education in Port Harcourt.

At The Polytechnic Ibadan, the agency announced that it would disburse loans to 6,004 students within two weeks. Aliyu Muhammad, Team Lead and Director of Monitoring and Evaluation, stated that the agency supports over 300 tertiary institutions, with more than three million applications received so far.

He also revealed that each student will receive their tuition credit directly to their institution’s account, followed by a N20,000 monthly upkeep allowance. In addition, NELFUND is developing a job portal to support beneficiaries in securing employment after graduation.

Muhammad reaffirmed that there has been no confirmed fraud in the system and credited collaboration with security and anti-corruption agencies for ensuring transparency and efficiency.

FAITH MIMDOO KEGH

Manager – Oversees the daily operations, editorial planning, and strategic direction of the platform. A graduate with a solid academic foundation in media and communication, Faith brings a wealth of experience to the TokinPoint.

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