NELFUND denies reports of student loan repayment

The Nigerian Education Loan Fund (NELFUND) has dismissed reports claiming that beneficiaries of its student loan scheme were being asked to start repayment.

In a statement yesterday, NELFUND’s Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, described the reports as “false, misleading, and unfounded.”

The clarification follows a statement from the University of Benin’s Vice-Chancellor, Prof. Edoba Bright Omoregie (SAN), which disowned a circulated document outlining alleged repayment procedures. The university confirmed that the document did not originate from its offices.

Oluwatuyi emphasized, “For the avoidance of doubt, NELFUND has not issued any directive requesting students to begin repayment of their loans.

Repayment is only required after beneficiaries have completed their studies and secured gainful employment, as stipulated by the NELFUND Establishment Act.”

NELFUND reaffirmed its commitment to providing transparent and student-friendly financing solutions.

The fund also urged students, parents, and institutions to ignore the fake circular and rely only on official NELFUND channels for information.