Any institution hoarding student loan information is committing a crime, says Sawyerr

Akintunde Sawyerr, the managing director of Nigeria Education Loan Fund (NELFUND), says any institution hoarding the information about the payment of student loan from the beneficiaries is committing a crime.

Sawyerr spoke in Abuja on Wednesday during an interview with journalists on the third day stakeholder’s engagement session/ workshop on NELFUND system automation and loan application processes.

The third day of the engagement was for the provosts and other officials of colleges of education in the country.

Speaking on the challenges involved in accessing the loan by the students, Sawyerr noted that management of higher institutions must realise that they must be proactive in disbursing money to the beneficiaries once they are paid by NELFUND.

“The issues at hand really lie with the management, the issue is to ensure that the management appreciate and understand if you receive money on Monday, the student must really value on Tuesday,” he said.

“Students should not wait one week, month or one year before they are told that they can attend classes.

And the students must not be charged a naira extra because what the commitment on NELFUND is to pay all the institutional charges.

“No school, institution should come and say NELFUND paid this but this is not part of NELFUND because of instruction to the institutions is that these students, once we have paid all institutional charges must access education, classes, tutorials, seminars, examinations, field trips.

“They must have access to education; we pay whole amount. We don’t want students to put their hands in their pockets and bring one extra naira.

“We don’t want the students to have to pay because the institutions told them we have not paid when we have.

He said the agency has disbursed funds to 303 institutions on behalf of 293,000 students.

“We have over 500,000 students who have successfully applied, not necessarily approved. They have managed to apply,” he said.

“We have about 570,000 in total who have registered. You have to register before you can apply. some of those who have registered have applied. Others are taking their time. Maybe they want to understand it a bit better.

“To give a straight answer to your question, we have 303 institutions that we have paid on behalf of 293,000 students.

“The way we work is that we go to the institutions beforehand, we tell the students what to do, we tell the management of the institutions, what to do. We bring them all together and say ‘this is how the scheme works.”

He noted that “under the visionary leadership of President Bola Ahmed Tinubu, GCFR, the Student Loan Scheme was established to eliminate financial barriers to tertiary education and give every Nigerian student a fighting chance to succeed regardless of background or social standing”.

“For Colleges of Education, this mission carries special significance. You train the educators who will shape generations,” he added.

“Supporting your students is not merely a transactional activity, it is a strategic investment in Nigeria’s intellectual and developmental future.

“When we integrate your institutions and students into the NELFUND ecosystem, we amplify the reach of education, foster resilience, and multiply the impact far beyond the individual.”