NELFUND Debunks Loan Repayment Rumours, Says No Student To Pay While In School Or Unemployed

The Nigerian Education Loan Fund (NELFUND) has dismissed as false and misleading reports suggesting that beneficiaries of its student loan scheme have been directed to commence repayment.
In a statement issued in Abuja on January 24, 2026, the Fund said it had observed with concern the circulation of fake reports and a purported circular on social media alleging that loan repayment had begun. NELFUND stressed that no such directive has been issued by the Fund or the Federal Government.
The clarification follows a public statement by the Vice-Chancellor of the University of Benin (UNIBEN), Professor Edoba Bright Omoregie (SAN), who disowned the circular being circulated in his name. The University confirmed that the document did not originate from the institution and that no repayment guidelines had been issued by NELFUND.
NELFUND categorically stated that no beneficiary is required to repay the loan while still in school. It further clarified that graduates who are unemployed are also not expected to make any repayment. According to the Fund, loan repayment will only commence in line with the provisions of the NELFUND Establishment Act and strictly after beneficiaries secure gainful employment, where applicable.
Reaffirming its commitment to transparency and student-friendly financing, NELFUND noted that all official information regarding loan administration or repayment will be communicated solely through its verified channels and formal government platforms.
The Fund urged students, parents, institutions, and the general public to disregard the fake circular and related publications, warning that the spread of unverified information could cause unnecessary panic and anxiety among students.
NELFUND assured beneficiaries of its unwavering commitment to due process, accountability, and the welfare of Nigerian students.