The Managing Director of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, has issued a stern warning to tertiary institutions that failed to inform students of loan disbursements made on their behalf.
Sawyerr gave the warning on Thursday while addressing journalists in Abuja.Sawyerr said recent findings by the Fund revealed that some institutions, after receiving student loan disbursements directly into their accounts, have continued to demand payment of institutional fees from the same students.
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,” he said.
He said the institutions have also failed to reflect the loan payments in their internal records, creating confusion for students.
The NELFUND boss warned that the Fund will not tolerate any form of deception or non-disclosure from institutions, stressing that necessary action will be taken.
Sawyerr restated that NELFUND’s mandate is to relieve the financial burden on Nigerian students and their families in line with the vision of President Bola Tinubu’s Renewed Hope Agenda.
He called on institutions to support the Fund’s efforts and avoid actions that could undermine public trust or deny students their entitled support.
He also assured the public of NELFUND’s commitment to transparency, accountability, and the successful implementation of the student loan scheme across the country.