The Managing Director of the Nigerian Education Loan Fund (NELFUND), Mr Akintunde Sawyerr, has urged tertiary institutions nationwide to refund students who were double-charged tuition despite benefiting from the federal loan scheme.
Speaking at NELFUND’s First Hybrid Media Engagement on Thursday in Abuja, Sawyerr warned that institutional non-compliance could erode public trust and threaten the long-term sustainability of the programme.
He said the scheme, launched on 24 May 2024, was fast-tracked by President Tinubu in response to a rising dropout crisis, with many students on the verge of abandoning their education due to economic hardship.
“The President wanted us to quickly start the scheme because there was a recognition that people were dropping out, even those in 300 and 400 level. We had to move, even if it meant starting mid-session,” he said.
However, Sawyerr admitted that the urgency created misalignments with academic calendars and institutional deadlines, causing some students to pay fees out of pocket — sometimes through desperate borrowing — before NELFUND later disbursed funds on their behalf.
“In such cases, these institutions are morally and professionally obligated to refund the students. Some schools have done the right thing, others have not. This has caused unnecessary distress for already vulnerable students,” he said.
He revealed that the matter had attracted the attention of anti-corruption agencies, including the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC), following student petitions and media reports.
“We have been questioned as an organisation. The institutions too have been questioned. We are not shielding anyone. If they can’t refund the students directly, they should return the funds to us, and we’ll ensure the students get their money back.
“There are students out there desperately trying to start their lives, and some institutions are making it harder for them. I appeal to all schools, do the right thing. Refund these students,” he said.
Sawyerr stressed the need to protect the Fund’s integrity, warning that sensational reporting and misinformation could discourage private-sector investment — critical for the scheme’s future sustainability.
“This is not just about education financing — this is a national transformation project. If you love Nigeria, you will support this programme. We cannot allow false narratives to derail a scheme that has already given hope to thousands of young Nigerians,” he said.
He cited the Fund’s public-facing transparency dashboard as proof of its commitment to accountability.
“We publish our data daily — not to save face, but to assure those who want to invest that this is a clean and accountable operation,” he said.
On skills development, NELFUND’s Executive Director of Operations, Mr Muspaha Iyal, said the Fund is partnering with the Ministry of Education to support the implementation of the new Technical and Vocational Education and Training (TVET) initiative, which has attracted nearly one million applications.
Iyal said while the TVET programme operates on a grant basis, NELFUND would later provide loan support to sustain it.
