Less than two years after disbursing loans to tertiary institution students through the Nigerian Education Loan Fund (NELFUND), President Bola Tinubu’s administration has requested repayment from beneficiaries of the scheme.
A circular dated January 23, signed by the University of Benin Registrar, A. A. Bobola, informed indebted students on the procedure for NELFUND loan repay from the federal government.
It stated, “This is to inform all students of the University of Benin who are beneficiaries of the Nigerian Education Loan Fund (NELFUND) that the University Management has received the official guidelines for the repayment of student loans.”
The circular highlighted steps for the loan repayment, urging indebted students to “strictly follow the two-step procedure.”
The circular noted, “Please ensure that you follow these steps carefully to avoid any delay in confirming your loan repayment. Members of the university community, particularly affected students, are hereby requested to please note and comply accordingly.”
Request for repayment of the loan came barely two years after the loans were given to student to support their education in various institutions of higher learning.
In 2024, an Act establishing NELFUND was signed into law by Mr Tinubu.
Earlier in January, Managing Director, NELFUND, Akintunde Sawyerr, said “1,361,011 applications have been received, 864,798 students have so far benefited from the loan scheme, and a total disbursement stands at N161.97 billion.
Earlier in January, Managing Director, NELFUND, Akintunde Sawyerr, said, “1,361,011 applications have been received, 864,798 students have so far benefited from the loan scheme, and a total disbursement stands at N161.97 billion.”
