April 10, 2025
The Managing Director, Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, has issued a stern warning to institutions that failed to inform students of loan disbursements made on their behalf.
Sawyerr stated this while addressing newsmen in Abuja on Thursday.
He said some institutions still demand payment of institutional fees from the same students rather than informing them of their loan disbursement.
Sawyerr said recent findings by NELFUND revealed that some institutions, after receiving student loan disbursements directly into their accounts, have neglected to notify the affected students.
“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.
He emphasised that NELFUND’s mission was to expand access to higher education by relieving the financial burden on Nigerian students and their families.
According to him, this is in line with the vision of President Bola Tinubu’s Renewed Hope Agenda.
He 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 actions that could undermine public trust or deny students their rightful support,”he said.
He reassured students and the public of the funds commitment to accountability, fairness, and the successful implementation of the student loan scheme across the country.(NAN)
