By Fred Ezeh, Abuja
The Nigerian Education Loan Fund (NELFund) announced on Thursday that it has uncovered fraudulent activities by some institutions in the student loan programme’s implementation.
In a statement, NELFund revealed that certain institutions fail to inform students of disbursements made on their behalf, yet still demand payment of institutional fees from those students.
Managing Director Mr Akintunde Sawyerr warned that NELFund would pursue legal action against institutions engaging in these deceptive practices.
He urged them to support the fund’s mission of ensuring no eligible Nigerian is denied higher education due to financial constraints, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
“This act of withholding critical financial information from students is not only unethical, but a direct violation of the principles upon which NELFund was established,” Sawyerr said.
He stressed that the fund aims to ease the financial burden on students and their families.
Sawyerr called on institutions to maintain transparency and collaborate with NELFund to deliver this national mandate effectively. He reaffirmed the agency’s commitment to accountability, fairness, and the successful rollout of the student loan scheme nationwide.