Abuja: The Managing Director of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, has made a public appeal to tertiary institutions across Nigeria to refund students who had paid their tuition fees before NELFUND disbursed the funds to the institutions.
According to News Agency of Nigeria, Sawyerr highlighted the potential risks associated with institutional non-compliance, stating that it could undermine public trust and the long-term sustainability of the education loan programme. Speaking at a media engagement in Abuja, he explained that the scheme, initiated on May 24, 2024, was expedited by President Bola Tinubu to combat a growing dropout crisis among university students facing economic hardship.
Sawyerr noted that the urgency of the programme led to misalignments with academic calendars and institutional deadlines. This resulted in some students paying their fees out-of-pocket, often through loans, only for NELFUND to later cover the same expenses. He stressed that institutions should refund these students, as it is both a moral and professional obligation.
He revealed that the situation has caught the attention of Nigeria’s anti-corruption agencies, including the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC), following complaints from students and media reports. Sawyerr asserted that if institutions cannot directly refund the students, they should return the funds to NELFUND, which will ensure the students receive their money back.
Sawyerr also emphasized the importance of protecting the fund’s integrity, warning that misinformation could jeopardize efforts to attract private-sector investment, crucial for the scheme’s future. He described the initiative as a national transformation project and urged everyone to support it.
Further, Muspaha Iyal, the Executive Director of Operations at NELFUND, discussed a partnership with the Ministry of Education to implement a new Technical and Vocational Education and Training (TVET) initiative, which has already attracted nearly one million applications. He mentioned that while the TVET programme currently operates on a grant basis, NELFUND plans to provide loan-based support in the future to ensure its sustainability.
