The Nigerian Education Loan Fund (NELFUND) has dismissed reports claiming that beneficiaries of the federal student loan scheme have been directed to commence repayment, describing the claims as false and misleading.
In a statement, Oseyemi Oluwatuyi, NELFund director of strategic communications, said the agency is concerned about reports circulating in the media and on social platforms suggesting that repayment had begun for beneficiaries of the student loans.
Oluwatuyi clarified that no such directive has been issued, noting that the claim followed a purported circular attributed to the University of Benin (UNIBEN) outlining repayment procedures.
She said Edoba Omoregie, the vice-chancellor of UNIBEN, has since disowned the document, confirming that it did not emanate from the institution, noting that no repayment guideline has been released by 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 statement reads.
Oluwatuyi explained that the repayment framework for student loans is clearly provided for in the NELFUND Establishment Act, which stipulates that beneficiaries are not required to repay while still in school.
According to her, repayment is also not required if a beneficiary remains unemployed after graduation, and loan repayment only begins in line with the provisions of the law after securing gainful employment.
She reiterated the agency’s commitment to expanding access to higher education through transparent, fair, and student-friendly financing, adding that any official information on loan administration or repayment would only be communicated through verified NELFUND channels and formal government platforms.
She urged students, parents, tertiary institutions, and the general public to disregard the fake circular and related publications, warning against the spread of unverified information capable of causing unnecessary anxiety among students.
Oluwatuyi also reassured beneficiaries of its commitment to due process, accountability, and the welfare of Nigerian students, while appreciating the continued cooperation of stakeholders.
