Chidimma Uchegbu -Abuja
The Nigerian Education Loan Fund (NELFUND) has noted with concern reports circulating in the media and social platforms alleging that beneficiaries of the NELFUND student loan scheme have been directed to commence repayment.
In a statement issued by the Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, NELFUND said categorically the reports are false, misleading, and unfounded.
The clarification followed an earlier statement by the Vice-Chancellor of the University of Benin (UNIBEN), Prof. Edoba Bright Omoregie (SAN), who disowned a purported circular currently in circulation outlining repayment procedures for NELFUND loans.
According to NELFUND, the University of Benin confirmed that the document did not originate from the institution and that no repayment guideline has been issued by either NELFUND or the Federal Government.
“For the avoidance of doubt, NELFUND has not issued any directive requesting students to
begin repayment of their loans,” the Fund stated.
NELFUND further explained that the repayment process is clearly provided for under the NELFUND Establishment Act, which shields beneficiaries from repayment obligations until certain conditions are met.
It noted that “no beneficiary is required to repay the loan while still in school,” adding that repayment is also not required “while a beneficiary remains unemployed after graduation.”
The Fund stressed that loan repayment only begins “in line with the provisions of the law, after gainful employment, as applicable.”
Reaffirming its commitment to student welfare, NELFUND said it remains focused on expanding access to higher education through “transparent, fair, and student-friendly financing solutions.”
The agency warned students, parents and institutions against spreading unverified information, urging the public to rely only on official communication channels.
“Any official information regarding loan administration or repayment will only be communicated through verified NELFUND channels and formal government platforms,” the statement added.
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