The Managing Director of Nigerian Education Loan Fund, NELFUND, Mr. Akintunde Sawyerr, has issued a strong appeal to tertiary institutions across the country to refund students who were double-charged tuition despite having benefited from the federal loan scheme.

Speaking at NELFUND’s First Hybrid Media Engagement on Thursday in Abuja, Sawyerr warned that institutional non-compliance could jeopardize both public trust and the long-term sustainability of the programme.

He explained that the scheme, launched on May 24, 2024, was fast-tracked by President Bola Tinubu to respond to a growing dropout crisis among university students, many of whom were at the verge of abandoning their education due to economic hardship.

“The president wanted us to quickly start the scheme because there was a recognition that people were dropping out, even those in 300 and 400 level. We had to move, even if it meant starting mid-session,” he said.

However, Sawyerr acknowledged that the urgency led to a misalignment with academic calendars and institutional deadlines.

He said this resulted in some students paying their fees out-of-pocket, often through desperate borrowing, only for NELFUND to later disburse funds to the same schools on their behalf.

“In such cases, these institutions are morally and professionally obligated to refund the students. Some schools have done the right thing, others have not. This has caused unnecessary distress for already vulnerable students,” he said.

The situation has drawn the attention of Nigeria’s anti-corruption agencies, including the Independent Corrupt Practices and Other Related Offences Commission, ICPC, and the Economic and Financial Crimes Commission, EFCC, following student petitions and media exposés.

“We have been questioned as an organization. The institutions too have been questioned. We are not shielding anyone. If they can’t refund the students directly, they should return the funds to us, and we’ll ensure the students get their money back.

“There are students out there desperately trying to start their lives, and some institutions are making it harder for them. I appeal to all schools, do the right thing. Refund these students,” he said

The NELFUND boss emphasized the importance of protecting the integrity of the fund, warning that sensationalist reporting or misinformation could undermine efforts to attract private-sector investment — a key to the scheme’s future viability.

“This is not just about education financing — this is a national transformation project,” he said. “If you love Nigeria, you will support this program. We cannot allow false narratives to derail a scheme that has already given hope to thousands of young Nigerians.”

He pointed to the fund’s public-facing transparency dashboard as evidence of NELFUND’s commitment to accountability. “We publish our data daily — not to save face, but to assure those who want to invest that this is a clean and accountable operation.”

On skills development, the Executive Director of Operations at NELFUND, Mr. Muspaha Iyal, noted that NELFUND is working in partnership with the Ministry of Education to support implementation of the new Technical and Vocational Education and Training, TVET, initiative, which has already received nearly one million applications.

Iyal added that while the TVET programme operates on a grant basis, NELFUND will later provide loan-based support to sustain it.