The Nigerian Education Loan Fund (NELFUND) has launched investigations into 34 tertiary institutions over allegations that they failed to refund students whose tuition fees were paid twice under the Federal Government's student loan scheme.
NELFUND Managing Director, Akintunde Sawyerr, disclosed this during an interview on ARISE NEWS, stating that the agency began the probe after receiving numerous petitions from affected students. He said the investigations are being conducted in collaboration with anti-corruption agencies, the National Association of Nigerian Students (NANS), and internal auditors.
According to Sawyerr, the issue arose because the student loan programme was introduced midway into the academic session, forcing many students to pay their tuition before NELFUND later paid the same fees directly to their institutions.
He explained that while some institutions promptly refunded the excess payments, others have yet to do so, leaving many students stranded despite relying on the refunds to repay loans taken by themselves or their families.
Sawyerr stressed that NELFUND has no legal authority to compel institutions to issue refunds or prosecute offenders. However, he revealed that the agency has referred some complaints to the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), and other relevant bodies for further action.
He also announced that NELFUND is developing a digital token-based payment system that will allow students to authorise tuition payments electronically, reducing the likelihood of future double payments.
The NELFUND boss further disclosed that the agency has refused to pay institutions that introduced excessive tuition fee increases after the student loan scheme was launched, adding that investigations into the affected schools are ongoing.
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