NELFUND Boss Cautions Tertiary Institutions Against Obstructing Student Loan Scheme
The Managing Director of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, has issued a stern warning to tertiary institutions, urging them to refrain from withholding critical information or delaying the disbursement of student loans.
Speaking during the third day of a stakeholder engagement session held in Abuja on Wednesday, Sawyerr emphasized the importance of prompt action by higher institutions once funds are received. The workshop, which focused on the automation of NELFUND’s loan application processes, specifically engaged provosts and senior officials from colleges of education across the country.
Highlighting the challenges students face in accessing the loans, Sawyerr stressed that the bottlenecks often stem from institutional management, not the funding agency.
“If an institution receives money on a Monday, students should feel the impact by Tuesday,” he said. “They must not be kept waiting for weeks or months, and under no circumstances should they be asked to pay additional fees.”
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He clarified that NELFUND’s mandate covers all institutional charges, including tuition, seminars, field trips, and examinations, and any extra charges demanded by schools would contradict the purpose of the scheme.
“Institutions must not mislead students by claiming certain payments fall outside NELFUND’s coverage when we have paid the full amount,” he added.
Sawyerr revealed that so far, the agency has disbursed funds to 303 institutions for the benefit of over 293,000 students.
He underscored the vision behind the Student Loan Scheme initiated by President Bola Ahmed Tinubu’s administration, describing it as a deliberate effort to dismantle financial barriers to tertiary education.
“This initiative aims to ensure every Nigerian student—regardless of background—has a fair opportunity to succeed. For Colleges of Education, this mission is even more critical, as you are training the educators who will shape future generations,” he noted.
He urged participating institutions to embrace the scheme as a strategic investment in Nigeria’s intellectual and developmental future, saying full integration into the NELFUND ecosystem would broaden educational access and deepen national resilience.
By PRNigeria
