The Nigerian Education Loan Fund (NELFUND) has dismissed circulating reports claiming that beneficiaries of its student loan scheme have been instructed to start repayment, describing such claims as false, misleading, and unfounded.

In a statement issued over the weekend, Mrs. Oseyemi Oluwatuyi, NELFUND’s Director of Strategic Communications, clarified that no directive has been issued mandating students to commence loan repayment. She emphasized that neither NELFUND nor the Federal Government has released any repayment guidelines.

The clarification follows a disclaimer by the Vice-Chancellor of the University of Benin (UNIBEN), Professor Edoba Bright Omoregie (SAN), who confirmed that a circular circulating online outlining repayment procedures did not originate from the university and should be ignored.

NELFUND reiterated that repayment is governed by the NELFUND Establishment Act, which stipulates that beneficiaries are not required to repay their loans while still in school. Repayment only begins after graduation and once the beneficiary secures gainful employment.

The Fund assured that repayment is strictly conditional on employment status and will strictly follow the legal provisions. It reaffirmed its commitment to expanding access to higher education through transparent, fair, and student-friendly financing solutions.

NELFUND urged students, parents, tertiary institutions, and the public to disregard the fake circular and avoid spreading unverified information that could cause panic or anxiety among students.