The Nigerian Education Loan Fund (NELFUND) has Cautioned Institutions Against Withholding Student Loan Disbursement Information.
The Managing Director/CE of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, has issued a stern warning to institutions that fail to inform students of loan disbursements made on their behalf, while still demanding payment of institutional fees from the same students.
Recent findings by NELFUND have revealed that some institutions, after receiving student loan disbursements directly into their accounts, have neglected to notify the affected students or reflect the payments in their school fee records, creating unnecessary confusion.
“This act of withholding critical financial information from students is not only unethical but a direct violation of the principles upon which NELFUND was established,” said Mr. Sawyerr. “We will not hesitate to take legal action against any institution found engaging in such deceptive practices.”
The MD emphasized that NELFUND’s mission is to expand access to higher education by relieving the financial burden on Nigerian students and their families, in line with the vision of President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Mr. Sawyerr further called on all institutions to uphold transparency and work collaboratively with the Fund in ensuring the efficient delivery of this national mandate.
“NELFUND exists to ensure no eligible Nigerian is denied the opportunity to pursue higher education due to lack of funds. We urge institutions to support this noble cause and avoid any actions that could undermine public trust or deny students their rightful support.”
The Fund reassures students and the public of its commitment to accountability, fairness, and the successful implementation of the student loan scheme across the country.
Signed
Mr. Akintunde Sawyerr Managing Director/ CE
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