The Managing Director of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, has issued a strong appeal to all tertiary institutions across the country to ensure that students who had paid their tuition fees before the disbursement of loans by NELFUND are duly refunded.
He made this appeal during a media engagement held in Abuja on Thursday.
Sawyerr expressed concern that the refusal or delay by some institutions to refund these students is causing unnecessary hardship, especially for those who had borrowed money under desperate circumstances to meet fee deadlines.
He stressed that any failure by institutions to comply with this obligation risks eroding public trust and could ultimately threaten the long-term sustainability of the education loan scheme.
According to him, the scheme, which officially commenced on May 24, 2024, was swiftly initiated under the directive of President Bola Tinubu in response to a disturbing increase in the number of students dropping out of universities due to severe economic challenges.
“The President recognised that many students, including those in their third and fourth years, were dropping out of school because of financial difficulties,” he explained. “That’s why he asked us to commence the programme without delay, even if it meant starting mid-academic session.”
However, Sawyerr acknowledged that this rapid rollout led to an unfortunate mismatch between NELFUND’s disbursement schedules and the existing academic calendars of many institutions. As a result, some students were compelled to pay their tuition fees directly, only for NELFUND to later release funds to the same schools on their behalf.
“In situations like this, schools are both morally and professionally obligated to refund students who had already paid out-of-pocket,” he said. “Some institutions have already done the right thing, but regrettably, others have refused to comply, adding to the distress of already vulnerable students.”
Sawyerr disclosed that this issue has attracted the attention of anti-corruption agencies in Nigeria, such as the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC). He revealed that both NELFUND and the implicated institutions have been questioned following student petitions and investigative media reports.
“We are not shielding any institution,” Sawyerr insisted. “If schools find it difficult to refund the students directly, they should return the funds to NELFUND, and we will ensure that the affected students receive their money back. There are young Nigerians eager to progress with their education and lives, but some institutions are making that journey unnecessarily difficult. I am appealing to all schools: please do the right thing and refund these students.”
Further stressing the broader significance of the programme, Sawyerr cautioned against the spread of misinformation that could jeopardise the credibility of the loan fund. He noted that the integrity of the scheme is crucial for attracting private sector investment, which is vital for its sustainability.
“This initiative goes beyond just providing educational financing; it is a critical component of Nigeria’s national transformation agenda. If you genuinely care about the future of this country, you should support this programme. We cannot let false narratives sabotage a scheme that has already restored hope to thousands of young Nigerians,” he stated.
On a related note, NELFUND’s Executive Director of Operations, Mr. Muspaha Iyal, shared updates on the fund’s collaboration with the Federal Ministry of Education in implementing the new Technical and Vocational Education and Training (TVET) initiative. He noted that the programme has already attracted nearly one million applications from interested participants.
Iyal explained that while the TVET scheme currently operates as a grant-based initiative, NELFUND plans to provide additional support through a loan-based mechanism in the future to ensure its sustainability. This, he said, would further bolster Nigeria’s efforts to equip its youth with practical skills for the modern economy.