By Peter Omopo
President Bola Tinubu’s Special Assistant on Social Media, Olusegun Dada, has clarified that no beneficiary of the Nigeria Education Loan Fund (NELFUND) has reached the repayment stage, urging Nigerians to ignore reports suggesting otherwise.
Dada made the clarification on Saturday via his official X (formerly Twitter) account, stating that repayment of the student loans will only begin after a two-year moratorium following the completion of the National Youth Service Corps (NYSC) programme.
According to him, the loan scheme will complete two years in March 2026 from the date the first applications were submitted, and as such, none of the beneficiaries is currently eligible for repayment.
“As it stands, the scheme will clock two years in March 2026 from the day the first applications were made, and not a single one of the applicants would have reached the repayment stage. Kindly discard any other information contrary to these,” Dada said.
He also shared a video message from the Managing Director of NELFUND, Akintunde Sawyerr, who described the repayment framework as seamless, transparent, and fair.
Sawyerr explained that the responsibility for loan repayment largely rests with the employers of graduates who benefited from the scheme, adding that a global standing instruction system has been put in place to recover funds from defaulters attempting to evade repayment.
Addressing concerns over possible travel restrictions, the NELFUND managing director assured beneficiaries that the loan scheme does not impose any travel bans.
He further explained that the two-year moratorium is designed to allow graduates time to secure employment and settle after their NYSC service. Repayment, he said, would commence in the third year at a rate of 10 per cent of the beneficiary’s income, with employers primarily responsible for remitting the funds.
Sawyerr noted that NELFUND does not intend to pursue beneficiaries directly for repayment, except in cases where the individual is self-employed, stressing that employers would be held accountable for compliance.
He added that beneficiaries are free to travel and pursue career opportunities while ensuring that repayments are made to sustain the scheme for future students.
The NELFUND programme is part of the Federal Government’s broader initiative to expand access to higher education and create a sustainable funding system for students across the country.
