The Nigerian Education Loan Fund (NELFUND) on Wednesday urged the management of the University of Lagos (UNILAG) to promptly refund fees paid by students prior to the Fund’s disbursement of institutional fees to the university.
NELFUND’s Managing Director, Mr. Akintunde Sawyerr, made the call during a sensitization meeting with UNILAG students.
Sawyerr, who was represented by the Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, noted that the refunds would address complaints from students who had paid their fees before the Fund released their loan payments to the university.
He further reminded tertiary institutions nationwide of their agreement with NELFUND not to bar students from academic activities due to non-payment of fees—especially those who have applied for and been verified under the loan scheme.
Sawyerr also emphasized the importance of continued sensitization on campuses to boost student participation in the scheme. He advised student beneficiaries intending to migrate to honor their loan repayment obligations after relocating abroad.
Responding to these concerns, UNILAG Vice-Chancellor Prof. Folasade Ogunsola, represented by the Dean of Student Affairs, Prof. Musa Obalola, acknowledged that a significant number of students had already received their refunds.
Ogunsola assured students still awaiting refunds that the process was in its final stage and urged them to provide accurate bank details to facilitate seamless payments next week.
She attributed the delay in payments to a mismatch between NELFUND’s disbursement calendar and the university’s academic schedule.
The Vice-Chancellor praised the student loan scheme for providing financial relief, noting that despite the relatively low fees in public universities, many students still struggle to pay.
She commended the federal government’s intervention, describing the zero-interest loan as a game-changer in enhancing access to quality education.
During the session, NELFUND’s Head of IT, Mr. Wale Ogunleye, revealed that 7,112 UNILAG students had registered for the loan, 5,566 had been approved, and disbursements had been made to 4,636 students.
Ogunleye urged applicants to ensure they meet the eligibility criteria, including Nigerian citizenship, confirmed undergraduate admission, and the uploading of admission letters and student ID cards on the portal.
