The Nigerian government has reassured students and the public that no money has been wrongly taken from student loans provided by the Nigerian Education Loan Fund (NELFUND). This announcement was made by the Honourable Minister of Education, Dr. Maruf Olatunji Alausa, during a high-level meeting in Abuja with Vice Chancellors, the Executive Secretary of the National Universities Commission (NUC), and the Managing Director of NELFUND.
Recall that there were NELFUND Student Loan Complaints.
Recent rumours in the media had raised concerns about missing student loan funds. However, after careful investigation, Dr. Alausa confirmed that there were no signs of fraud or mismanagement. Instead, the issues that were noticed had to do with delays in communication between NELFUND, universities, and the students who are meant to receive the loans.
To solve this problem, Dr. Alausa announced that a special Committee has been formed to create clear rules and timelines for how funds should be disbursed and communicated.
One major task for the Committee is to make sure that university charges are listed in a standard way. This will help prevent confusion over what part of the loan is used for which expense. It will also stop students from thinking that hidden charges are being removed from their loans.
The Committee’s work will include defining exactly when NELFUND should send funds to universities, how quickly the schools should notify students, and when students should expect to have access to the money. A reliable communication system will be introduced so that students get important updates through SMS, emails, or phone calls.
The Minister also reminded everyone that federal universities in Nigeria do not charge tuition fees. However, other charges like registration or accommodation fees still apply. These fees must now be made clear and reasonable, with no room for hidden deductions or misunderstanding. This update is expected to support the Federal Government’s promise to improve trust and fairness in student loan disbursement.
The Committee is expected to submit their report in three weeks. Afterwards, the Ministry of Education will release full guidelines that all universities and institutions must follow when it comes to handling student loan funds. This effort is part of the government’s plan to improve higher education financing in Nigeria and make it more transparent and student-friendly.
Also speaking at the meeting, NELFUND’s Managing Director, Mr. Akintunde Sawyer, shared progress on the new online loan application platform. This digital system makes it easier for eligible students across federal and state institutions to apply and manage their loans.
The Permanent Secretary of the Ministry, Mr. Abel Olumuyiwa Enitan, encouraged NELFUND to do even more to reach out to students who need the loans and to make sure the loan process is fair and efficient for everyone.