NELFUND Debunks Loan Repayment Rumours
The Nigerian Education Loan Fund (NELFUND) has debunked widespread reports suggesting that beneficiaries of the federal government’s student loan scheme have been instructed to begin repayment, describing the claims as false, misleading and capable of causing needless panic among students.
In a statement issued in Abuja on Saturday, NELFUND clarified that it has not issued any directive mandating students to repay their loans, contrary to claims circulating across social media and some media platforms.
Signed by the Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, the Fund reiterated its readiness to engage stakeholders and provide clarity whenever needed.
The Fund’s clarification follows a public disclaimer by the Vice-Chancellor of the University of Benin,UNIBEN, Prof. Edoba Bright Omoregie,SAN, who disowned a purported circular allegedly outlining repayment procedures for NELFUND loans.
According to the university, the document did not originate from UNIBEN, and no repayment guideline has been issued by NELFUND or the federal government.
NELFUND stressed that the conditions for loan repayment are clearly spelt out in its Establishment Act, which safeguards beneficiaries from repayment obligations while still in school or during periods of unemployment after graduation.
“For the avoidance of doubt, no student is required to repay the loan while in school. Repayment does not commence until the beneficiary is gainfully employed, in line with the law,” the Fund stated.
Reaffirming its commitment to expanding access to higher education, NELFUND said the student loan scheme is designed to be transparent, fair and student-friendly, adding that all official information regarding loan administration or repayment would only be communicated through its verified channels and formal government platforms.
The Fund urged students, parents, tertiary institutions and the general public to disregard the fake circular and avoid sharing unverified information that could heighten anxiety among students nationwide.
NELFUND also reassured beneficiaries of its dedication to due process, accountability and the welfare of Nigerian students, while calling on stakeholders to rely solely on credible sources for information concerning the loan scheme.
“All official updates will come directly from NELFUND through recognised channels,” the statement emphasised.| NELFUND Debunks Loan Repayment Rumours Zichis Rides Growth Wave with Solid Fundamentals
