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The House of Representatives has warned universities and other tertiary institutions participating in the Nigerian Education Loan Fund scheme against withholding students’ loan payments or delaying refunds owed to eligible beneficiaries. The lawmakers said reports of irregularities in the handling of the funds could undermine the programme’s objective of making higher education more accessible to Nigerian students.
Chairman of the House Committee on Student Loans, Scholarships and Higher Education Financing, Ifeoluwa Ehindero, disclosed that the committee identified concerns during its monitoring activities and engagements with participating institutions. These include schools allegedly retaining funds meant for verified students and failing to return tuition payments to students who had already paid their fees before NELFUND released the money.
The committee also raised concerns over cases where students reportedly received only part of the refunds due to them. According to the lawmakers, prolonged delays in processing payments and refunds could worsen students’ financial difficulties and disrupt their academic activities.
To address the situation, the committee directed school authorities to ensure that all funds received on behalf of beneficiaries are properly accounted for and used for their intended purpose. Institutions were also urged to ensure that bursars, information technology departments and designated NELFUND officers comply with the established financial and administrative guidelines.
The lawmakers warned that institutions found deliberately violating the scheme’s rules could face serious consequences, including suspension from the programme, recovery of improperly handled funds and referral to relevant law enforcement or regulatory agencies. The committee said it would strengthen its oversight to ensure eligible students receive the financial support intended to help them pursue their education without unnecessary financial hardship.
