The Nigerian Education Loan Fund (NELFUND) has issued a strong warning to educational institutions that fail to inform students about loan disbursements made on their behalf while still demanding payment of institutional fees.
Investigations have revealed that some institutions receive student loan funds directly but neglect to notify the beneficiaries or update their fee records, leading to confusion.
Managing Director and Chief Executive, Mr. Akintunde Sawyerr, emphasized that withholding such critical financial information is unethical and violates NELFUND’s foundational principles.
He stated, “We will not hesitate to take legal action against any institution found engaging in such deceptive practices.”
NELFUND’s mission is to expand access to higher education by alleviating financial burdens on Nigerian students and their families, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Mr. Sawyerr called on all institutions to uphold transparency and collaborate with the Fund to ensure the efficient delivery of this national mandate.
The Fund reassured students and the public of its commitment to accountability, fairness, and the successful implementation of the student loan scheme nationwide.
