NELFUND to School:Stop Double Charging Students with Approved Loans

The Nigerian Education Loan Fund (NELFUND) has issued a directive to all tertiary institutions across the country: refund students who were charged tuition fees despite already benefiting from the federal loan scheme.

The warning came from Mr. Akintunde Sawyerr, Managing Director of NELFUND, during the agency’s first hybrid media engagement held in Abuja. He made it clear that any institution found withholding refunds is not only violating professional ethics but is also placing the entire student loan programme at risk.

Students Caught in the Middle
According to Sawyerr, the urgency to launch the education loan scheme in May 2024—mid-academic session—created scheduling clashes between disbursement timelines and institutional payment deadlines.

This misalignment forced many students to pay fees out-of-pocket under pressure, even though their loans were later processed and paid directly to the institutions.

“In such cases, these institutions have a duty to refund the students,” Sawyerr said. “Some have done the right thing. Others have not. It has added emotional and financial stress to students already struggling with hardship.”

Oversight Intensifies
The issue has now gained the attention of anti-corruption agencies, including the Independent Corrupt Practices Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC), following student petitions and media reports.

NELFUND confirmed it has been questioned over these irregularities and has cooperated fully with investigators.

“We are not covering for anyone,” Sawyerr stated. “If institutions refuse to refund the students directly, they should return the funds to us, and we’ll handle the refund process ourselves.”

NELFUND’s Appeal: Do the Right Thing
The NELFUND boss emphasized the moral obligation of schools to act transparently. He urged all institutions involved to take immediate steps toward resolving outstanding refunds and avoid tarnishing the credibility of the loan scheme.

“This programme isn’t just about education financing. It’s a tool for national transformation. We cannot allow mismanagement to threaten its future,” he added.

Protecting the Fund’s Integrity
To build trust and attract future investors, NELFUND has implemented a public transparency dashboard. This platform updates real-time data about disbursements, institutions, and applicants, showing the agency’s commitment to accountability.

Sawyerr also warned against sensational media reporting or misinformation that could weaken public support or discourage private sector participation—critical for the long-term success of the scheme.

TVET Grants Also Underway
In addition to loan services, NELFUND is supporting the rollout of the Technical and Vocational Education and Training (TVET) initiative in partnership with the Federal Ministry of Education.

Mr. Muspaha Iyal, NELFUND’s Executive Director of Operations, said nearly one million applications have already been received. The TVET program is designed to empower Nigerian youth with practical skills and operates on a grant-based system rather than loans.

What Comes Next?
As NELFUND continues to expand its role in Nigeria’s education sector, institutions are expected to comply fully with refund directives and support the integrity of the initiative. For students, the hope is that better coordination in future sessions will prevent such complications altogether.

Final Note
NELFUND’s position is clear: the loan scheme must work for students, not against them. Institutions are expected to uphold trust and transparency to ensure that no Nigerian student is left financially disadvantaged by a programme meant to provide relief.