BREAKING: We Won’t Pay Loans Directly Into Students’ Accounts, NELFUND Clears Air
The Nigerian Education Loan Fund (NELFUND) has debunked circulating reports claiming the agency plans to bypass universities and pay loans directly into students’ personal accounts.
Speaking exclusively to Legit.ng on Tuesday, the agency’s spokesperson, Oseyemi Oluwatuyi, clarified the situation following an uproar among students from various institutions, including Usmanu Danfodiyo University Sokoto (UDUS) and Modibbo Adama University, Yola , who complained of non-disbursement of approved students’ loans.
NELFUND: “We Are Not Boycotting Universities”
Oseyemi maintained that the agency will not boycott the universities in the disbursement process despite the unnecessary delay and the plights of the beneficiaries.
“Yes, we were also made aware that some universities do not alert their students when their school fees have been paid by NELFUND, thereby causing panic amongst the students,” Oluwatuyi said.
“We have issued a general warning to all universities, especially the erring ones, to desist from such acts. We only pay the students’ monthly upkeep directly to their personal accounts. All institutional fees, including tuition, are paid straight to the school.”
He urged students and the public to disregard misleading reports suggesting that the agency was altering its disbursement model to sideline tertiary institutions and start paying directly to the students’ personal accounts.
University students lament, at risk of deferment
Despite NELFUND’s stance, Legit.ng has gathered disturbing reports from students at UDUS who claim their tuition fees remain unpaid, leaving them on the brink of deferring their academic sessions.
Hafsat Ibrahim, a final-year student and NELFUND beneficiary, said her hopes were dashed when the school insisted on upfront payment despite her loan approval.
“I’ve managed to raise ₦60,000 so far, but I still need ₦38,000. I don’t know where that will come from, and this is my final year,” she lamented.
“My loan was approved and we learned that NELFUND has given this money to the school, even we were asked to submit our details for refund weeks ago, but up till now, nothing has been paid. This is a few days before the exam.”
Legit.ng learned that UDUS students are expected to commence their first semester examination next week if everything goes as planned by the university management, yet a considerable number of the students, under the payroll of NELFUND, have not done their registration.
Nura Sanusi Gawata, another NELFUND beneficiary, expressed similar frustrations.
“The money is taking too much time. We solely depend on NELFUND,” he said.
Legit.ng also learned that students at Modibbo Adama University have taken to social media to air their frustrations over non-payment of approved NELFUND loans. Similar situations are unfolding in other northern universities, compounding anxiety among undergraduates as exam periods draw near.
NELFUND warns Nigerian institutions
Legit.ng earlier reported that barely a year after the student loan scheme took effect under the administration of the Nigerian Education Loan Fund (NELFUND), it has run into issues.
The body recently announced that it had disbursed over N20 billion to students in public tertiary institutions nationwide.
Now, NELFUND has uncovered a fraudulent scheme allegedly perpetrated by some of the public tertiary institutions under the scheme.
