The Special Assistant to Tinubu on Social Media, Dada Olusegun, has dismissed claims circulating online that beneficiaries of the Nigeria Education Loan Fund have begun repayment, saying no applicant is yet due to repay the loan.
In a statement shared on his verified X page on Saturday, Dada explained that the repayment structure under the NELFUND scheme includes a clear moratorium that places all current beneficiaries outside the repayment window.
“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,” he said.
Dada also shared a video statement by the Managing Director of NELFUND, Akintunde Sawyerr, who described the repayment process as seamless, transparent, and fair, stressing that beneficiaries should not be alarmed by misinformation.
According to Sawyerr, repayment obligations are structured in a way that prioritises stability for graduates, noting that deductions are mainly handled through employers once beneficiaries are gainfully employed.
“We have a global standing instruction system in place to recover funds from defaulters attempting to evade repayment,” he said.
Addressing concerns about travel restrictions and freedom of movement, Sawyerr clarified that the loan scheme does not impose any travel bans on beneficiaries.
“Two years is there because in your year of NYSC, you may not be able to look for a job. In the two years after, you have an opportunity to look for a job, settle down, rent a house, marry the love of your life, and all of that,” he explained.
He further stated that repayment in the third year is set at 10 per cent of a beneficiary’s income and that employers bear primary responsibility for remitting the funds.
“We do not have any intention of forcing people to pay NELFUND back, other than the employer. If the employer doesn’t pay us, we can go after the employer, not the people who are applying for this loan today, unless they are self employed,” Sawyerr said.
He added that beneficiaries retain full freedom to pursue career opportunities locally and abroad, urging those earning steady incomes to support the sustainability of the scheme for future students.
“The fact that you take a loan from us doesn’t mean you’re a slave to the government. People can travel wherever they want. If they’re earning good money, they should remember to send something back for the loan,” he said.
The NELFUND scheme is part of the Federal Government’s effort to expand access to tertiary education while creating a sustainable funding framework for students across the country.
