The Nigerian Education Loan Fund (NELFUND) has issued a stern warning to tertiary institutions regarding unethical conduct. Reports indicate that some schools are holding onto tuition payments that should be refunded to students, while others are implementing sudden fee hikes despite receiving government support.
Oseyemi Oluwatuyi, the director of strategic communications for NELFUND, confirmed that the agency is addressing complaints from students. These individuals paid their tuition upfront, only for the schools to receive a second payment from the loan scheme without issuing the necessary refunds. Furthermore, NELFUND expressed disapproval of arbitrary cost increases that contradict the intent of the loan program introduced by President Bola Ahmed Tinubu.
The agency is currently in discussions with the relevant university authorities to mandate timely refunds and ensure that institutional fees remain reasonable. NELFUND emphasized that its primary mission is to remove financial obstacles for students, not to facilitate exploitation. Moving forward, the fund maintains that it will actively monitor these institutions to uphold the integrity of the federal financing initiative.
