The Nigerian Education Loan Fund (NELFUND) has issued a stern warning to tertiary institutions, declaring that any of them that go contrary to the terms and conditions surrounding funds paid to it on behalf of students will be dealt with.
The Managing Director of the fund at a stakeholder meeting with heads of Colleges of Education, Agriculture, Health, and Nursing in Abuja, Nigeria said that any act of sabotage or illegal financial demand from beneficiaries of the Federal Government’s student loan scheme will be treated as a criminal offence.
Sawyerr, emphasised that the Fund will take decisive action against any institution found undermining the loan programme’s integrity, stressing that while NELFUND does not posses statutory authority to discipline or remove heads of institutions, any illegal act uncovered would be escalated to the Federal Ministry of Education for administrative action or to law enforcement where applicable.
“The commitment of NELFUND is to pay all institutional registration charges that guarantee students access to lectures, tutorials, exams, and other academic activities.
“We will not tolerate a situation where students are made to pay after we have already disbursed funds on their behalf,” he said.
According to the NELFUND boss, 303 institutions have so far received payments on behalf of over 293,000 students across the country, adding that no student should be asked to pay out-of-pocket once NELFUND has settled their fees.
“This is not a refund scheme. Any school that demands payment from students after receiving funds from us is engaging in an illegal act. Such behaviour constitutes economic sabotage and will be treated as a criminal matter
“Institutions found wanting will be held accountable. President Bola Ahmed Tinubu’s vision to make education accessible must not be derailed by selfish interests,” he said.
Sawyerr also said that investigations into reported cases of irregularities and extortion are already underway.
“The probes are being carried out in collaboration with the National Orientation Agency (NOA), Federal Ministry of Education, and NELFUND’s internal compliance units,” he said
The Managing Director of NELDUND commended members of the public and stakeholders for their vigilance and feedback, assuring that the Fund remains committed to transparency and accountability in its mission to democratise access to higher education in Nigeria.
Lateefah Ibrahim
