Managing Director of Nigerian Education Loan Fund, NELFUND, Akintunde Sawyerr has issued a stern warning to institutions that fail to inform students of the loan disbursements made on their behalf.
Sawyerr stated this while addressing newsmen Thursday in Abuja.
He said some institutions still demand payment of institutional fees from the same students rather than inform them of their loan disbursement.
Sawyerr said recent findings by NELFUND revealed that some institutions, after receiving student loan disbursements directly into their accounts, have neglected to notify the affected students.
He added that these institutions do not also reflect the payment in their school fee records, creating unnecessary confusion.
“This act of withholding critical financial information from students is not only unethical, but a direct violation of the principles upon which NELFUND was established.
“We will not hesitate to take legal action against any institution found engaging in such deceptive practices,” he said
He emphasised that NELFUND’s mission is to expand access to higher education by relieving the financial burden on students and their families.
According to him, this is in line with the vision of President Bola Tinubu’s ‘Renewed Hope Agenda.’
He called on all institutions to uphold transparency and work collaboratively with the Fund in ensuring the efficient delivery of this national mandate.
“NELFUND exists to ensure that no eligible Nigerian is denied the opportunity to pursue higher education due to lack of funds.
“We urge institutions to support this noble cause and avoid actions that could undermine public trust or deny students their rightful support,” he said.
He reassured students and the public of the funds commitment to accountability, fairness and the successful implementation of the student loan scheme across the country. (NAN)
