NELFUND Urges Student Leaders To Take Ownership Of Loan Scheme

The Nigerian Education Loan Fund (NELFUND) has called on student leaders across tertiary institutions to take full ownership of the federal government’s education loan scheme to ensure its successful implementation and impact.

Speaking on Thursday at Day 4 of the ongoing Stakeholders Engagement Session and Technical Workshop in Abuja, NELFUND’s Managing Director/Chief Executive, Mr. Akintunde Sawyerr, reaffirmed the agency’s commitment to eliminating financial barriers and creating opportunities for all Nigerian students to thrive academically.

Sawyerr emphasized the critical role of student leaders in ensuring the scheme reaches its intended beneficiaries.

“To make this work, we need you—your voice, your leadership, your engagement on campus. Help us raise awareness, refine our processes, and ensure this scheme gets to every student it was designed to serve,” he said.

Also speaking, NELFUND’s Executive Director of Operations, Iyal Mustapha, cautioned institutions against delays in verifying student applications, noting that such slow responses had hindered timely disbursement of funds.

“Once applications are verified, they are sent to institutions for confirmation, but delays from some schools affect the process. If your school doesn’t confirm your status, we cannot release the funds,” he explained.

Mustapha reiterated that the loan scheme was designed to support learning and reduce dropout rates.

“There is no interest, no guarantor, no harassment—just a commitment to education. No student should drop out due to financial constraints,” he said.

Meanwhile, the President of the National Association of Nigerian Students (NANS), Olushola Oladoja, issued a stern warning to institutions and individuals allegedly sabotaging the scheme.

He revealed that NANS has set up a five-man investigative committee to probe concerns surrounding the disbursement and accountability of the loan funds.

“We have received reports of institutions claiming they were not paid, while NELFUND insists payments were made. This cannot continue. Our committee will engage directly with NELFUND, and we plan to visit the ICPC to verify these claims. We will get to the root of this,” Oladoja said.