The Nigerian Education Loan Fund (NELFUND) has dismissed as false and misleading reports suggesting that beneficiaries of its student loan scheme have been directed to commence repayment.
In a statement issued on Friday, the Fund said it had noted with concern the circulation of claims in the media and on social platforms alleging that students were being asked to begin repaying their loans, stressing that no such directive has been issued.
The clarification follows a statement by the Vice-Chancellor of the University of Benin (UNIBEN), Professor Edoba Bright Omoregie, SAN, who disowned a purported circular currently in circulation that outlines repayment procedures for NELFUND loans.
According to the university, the document did not originate from UNIBEN, and no repayment guideline has been issued 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 Fund stated.
NELFUND, in a confirmation signed by its Director of Strategic Communications, Mrs Oseyemi Oluwatuyi, further explained that the repayment framework for its loans is clearly defined in the Fund’s Establishment Act.
“Under the law, beneficiaries are not required to repay while still in school, nor are they required to do so if they remain unemployed after graduation. Loan repayment, the Fund noted, only commences in line with legal provisions and after a beneficiary secures gainful employment.”
Reaffirming its mandate, NELFUND said it remains committed to expanding access to higher education through transparent, fair, and student-friendly financing solutions.
The Fund emphasised that any official information regarding loan administration or repayment would only be communicated through its verified channels and formal government platforms.
It 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.
NELFUND also reassured beneficiaries of its commitment to due process, accountability, and the welfare of Nigerian students, while appreciating the continued cooperation of stakeholders.