By Fawaz Balogun
The Nigerian Education Loan Fund (NELFUND) has condemned the alleged unethical practices of some tertiary institutions, accusing them of delaying or refusing to refund students whose tuition fees had already been paid through the student loan scheme while also arbitrarily increasing institutional charges.
This was disclosed in a statement signed by the Director of Strategic Communications, Oseyemi Oluwatuyi, on Monday, June 29, 2026.
According to the NELFUND, the notice was issued following a complaint received from students whose institution failed to refund fees already paid before the loan was disbursed, prompting the agency to warn against practices that undermine the objectives of the student loan scheme.
The notice stated that the Student Loan Scheme is an initiative of President Bola Ahmed Tinubu, GCFR, which was established to remove financial barriers to higher education, not to create additional burdens for Nigerian students.
“NELFUND is engaging the affected institutions and relevant authorities to ensure that due refunds are made to eligible students and that institutional charges remain fair, transparent, and consistent with the objectives of the scheme,” the notice read.
The agency further reaffirmed its commitment to protecting the interests of students and preserving the integrity of what it described as a landmark national intervention.
