In a recent statement, the Nigerian Education Loan Fund (NELFUND) has firmly rejected reports circulating in the media and on social platforms that beneficiaries of its federal student loan scheme have been instructed to begin repayment.
Mrs. Oseyemi Oluwatuyi, the Director of Strategic Communications at NELFUND, expressed concern over these misleading claims, emphasizing that no such directive has been issued. “NELFUND wishes to categorically state that these reports are false, misleading, and unfounded,” she stated.
This clarification comes on the heels of an earlier declaration from Prof. Edoba Bright Omoregie (SAN), the Vice-Chancellor of the University of Benin (UNIBEN), who discredited a purported circular outlining repayment procedures for NELFUND loans. Following NELFUND’s inquiries, the University of Benin confirmed that the document did not originate from their institution and reiterated that no repayment guidelines have been issued by either NELFUND or the Federal Government.
For clarity, NELFUND reiterated that beneficiaries are not required to start repaying their loans while still in school and emphasized that repayments commence only after the beneficiary secures gainful employment, as outlined in the NELFUND Establishment Act. The agency clarified, “No beneficiary is required to repay the loan while still in school, nor while remaining unemployed post-graduation.”
Reaffirming its commitment to student welfare, NELFUND is dedicated to expanding access to higher education with “transparent, fair, and student-friendly financing solutions.” The Fund urged students, parents, and educational institutions to refrain from disseminating unverified information, stressing the importance of relying solely on official communication channels.
“NELFUND will communicate any official information regarding loan administration or repayment through verified channels and formal government platforms,” the statement concluded.
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