The Managing Director/Chief Executive of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, has issued a stern warning to institutions that fail to inform students of loan disbursements made on their behalf, while still demanding payment of institutional fees from the same students.
In a statement issued in Abuja, Sawyerr said recent findings by NELFUND have revealed that some institutions, after receiving student loan disbursements directly into their accounts, have neglected to notify the affected students or reflect the payments in their school fee records, creating unnecessary confusion.
The MD emphasized that NELFUND’s mission is to expand access to higher education by relieving the financial burden on Nigerian students and their families, in line with the vision of President Bola Ahmed Tinubu’s Renewed Hope Agenda.
He further called on all institutions to uphold transparency and work collaboratively with the Fund in ensuring the efficient delivery of this national mandate.
This act of withholding critical financial information from students, according to him, is not only unethical but a direct violation of the principles upon which NELFUND was established.
He assured that Nelfund will not hesitate to take legal action against any institution found engaging in such deceptive practices.
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