NELFUND Orders Tuition Refunds to Loan Beneficiaries

The Nigerian Education Loan Fund (NELFUND) has directed all tertiary institutions across the country to refund tuition fees paid by students who were verified for the student loan scheme before the disbursement of funds. The agency emphasized that no verified beneficiary should be denied access to academic activities, including examinations, due to unpaid fees.

NELFUND Managing Director/CEO, Akintunde Sawyerr, reiterated the importance of compliance by universities, polytechnics, and other institutions, noting that it aligns with the Memorandum of Understanding (MoU) signed with the agency. He said the refund order is crucial in resolving complaints raised by many students who are part of the loan programme.

As of 8:21 p.m. on Wednesday, the NELFUND portal showed 597,337 student registrations, with 547,954 successfully completing their applications. On May 7, Sawyerr had informed the House of Representatives Committee on Students Loan that N54 billion had already been disbursed.

At the University of Lagos (UNILAG), during a sensitisation visit, Sawyerr—represented by the Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi—commended the institution for beginning the refund process. She stated that the directive applies to all institutions that have received funds on behalf of loan beneficiaries.

UNILAG Vice-Chancellor, Prof. Folasade Ogunsola, represented by the Dean of Student Affairs, Dr. Musa Obalola, assured students still awaiting refunds that the process is in its final stage. She urged them to submit accurate bank details for processing. Ogunsola attributed delays to a mismatch between the university’s academic calendar and NELFUND’s disbursement timeline, and praised the loan initiative as a significant step towards improving access to education.

According to NELFUND’s Head of IT, Wale Ogunleye, 7,112 UNILAG students registered for the loan, with 5,566 approvals and 4,636 disbursements made so far.

In Rivers State, at the University of Port Harcourt (UNIPORT), Sawyerr—represented by Director of Administration Zino Ugboma—dismissed claims of fraud in the loan disbursement process, saying such allegations were premature and unfounded. He stressed the agency’s commitment to transparency and the importance of avoiding sabotage and misinformation. UNIPORT has recorded 4,000 student registrations, the highest in the state.

Vice-Chancellor Prof. Owunari Georgewill noted that only 1,800 of the university’s 40,000 students are benefitting from the loan, citing cultural resistance in the South-South and South-East regions to debt, even interest-free. He suggested rebranding the scheme as a “repayable grant” to encourage broader participation.

At Ignatius Ajuru University of Education, also in Rivers State, NELFUND continued its sensitisation efforts, promoting the benefits of the programme and addressing misconceptions.

Meanwhile, at The Polytechnic Ibadan, NELFUND announced plans to disburse loans to 6,004 students within two weeks. Team Lead and Director of Monitoring and Evaluation, Aliyu Muhammad, stated that more than 300 tertiary institutions are currently covered under the scheme, with the agency’s portal receiving over three million applications. He assured that disbursements would include tuition payments and a monthly upkeep allowance of N20,000 per student.

Muhammad also revealed that NELFUND had launched a job portal aimed at supporting loan beneficiaries with employment opportunities post-graduation. He reaffirmed the agency’s partnership with security and anti-graft bodies to ensure a transparent and efficient loan process, emphasizing that allegations of fraud have been proven false.