The Managing Director of the Nigerian Education Loan Fund, NELFUND, Mr. Akintunde Sawyerr, has issued a stern warning to institutions against failing to inform students of loan disbursements made on their behalf, and continuing to demand payment of institutional fees from the same students.
Sawyerr, in a statement on Thursday, said recent findings by NELFUND have revealed that some institutions, after receiving student loan disbursements directly into their accounts, have neglected to notify the affected students or reflect the payments in their school fee records, creating unnecessary confusion.
“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.
“We will not hesitate to take legal action against any institution found engaging in such deceptive practices,” he said.
The MD emphasized that NELFUND’s mission is to expand access to higher education by relieving the financial burden on Nigerian students and their families, in line with the vision of President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Sawyerr further called on all institutions to uphold transparency and work collaboratively with the Fund in ensuring the efficient delivery of this national 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 said.
He reassured students and the public of NELFund’s commitment to accountability, fairness, and the successful implementation of the student loan scheme across the country.
