The Nigerian Education Loan Fund (NELFUND) has instructed all tertiary institutions to refund tuition fees to students who had already paid before their loans were disbursed, provided they had applied and been verified under the student loan scheme.
In addition, NELFUND has warned institutions against barring verified students from participating in academic activities, including examinations, due to non-payment of fees.
The Managing Director and Chief Executive Officer of NELFUND, Mr. Akintunde Sawyerr, emphasized the need for compliance, stating that universities, polytechnics, and other institutions must uphold the agreement they signed with the agency. According to him, this directive aims to address growing concerns and complaints from students benefiting from the scheme.
As of 8:21 PM on the day of the announcement, NELFUND reported that 597,337 students had registered for the loan, and 547,954 had completed the application process. During a May 7 appearance before the House of Representatives Committee on Student Loans, Mr. Sawyerr revealed that N54 billion had already been disbursed by the agency.
At the University of Lagos (UNILAG), one of the stops on NELFUND’s ongoing campus sensitization tour, Sawyerr — represented by the Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi — confirmed that the institution had begun processing refunds for students who had paid their fees before receiving loan disbursements.
“This directive applies to all institutions that have received institutional fees on behalf of student loan beneficiaries,” Oluwatuyi stated. “UNILAG has already started the refund process, and we expect other institutions to follow suit. We also remind all institutions that they signed a memorandum of understanding not to restrict verified students from academic participation due to fee-related issues.”
She reiterated the importance of sustained awareness campaigns to increase student participation in the loan scheme and urged beneficiaries who plan to migrate to honour their loan obligations even after relocating abroad.
Speaking at the event, UNILAG Vice-Chancellor Prof. Folasade Ogunsola — represented by the Dean of Student Affairs, Dr. Musa Obalola — assured students awaiting refunds that the process was nearing completion. She advised them to ensure they submit accurate banking information to facilitate the reimbursement expected to begin next week.
Prof. Ogunsola attributed the delay in synchronizing fee payments with loan disbursements to a misalignment between the university’s academic calendar and NELFUND’s processing timeline. She praised the federal government’s initiative, describing the interest-free loan as a “game-changer” in promoting access to quality higher education, especially for students from low-income backgrounds.
According to NELFUND’s Head of Information Technology, Mr. Wale Ogunleye, 7,112 UNILAG students registered for the loan, with 5,566 applications approved and disbursements made to 4,636 beneficiaries.
Meanwhile, during another sensitization session at the University of Port Harcourt, NELFUND’s Director of Administration, Zino Ugboma — speaking on behalf of Mr. Sawyerr — addressed rumours of fraud in the loan disbursement process. He dismissed the claims as premature and emphasized the agency’s commitment to transparency and continuous improvement.
“We acknowledge that the system may not be perfect, but we’re doing our best to ensure it’s as effective and fair as possible,” Ugboma said. “Sabotage and misinformation risk undermining what could be a transformative programme for Nigeria’s education sector.”
