At a sensitization meeting held on Wednesday, May 21, NELFUND’s Managing Director, Mr. Akintunde Sawyerr, represented by Mrs. Oseyemi Oluwatuyi, the Director of Strategic Communications, confirmed that the Fund would refund students at the University of Lagos (UNILAG) who had paid their fees before the disbursement of their loan funds. The refund is aimed at addressing complaints from students affected by the timing of fee payments and NELFUND’s loan distribution process.
Sawyerr, speaking through Mrs. Oluwatuyi, highlighted that the refund initiative is part of NELFUND’s ongoing efforts to support students and address the challenges posed by the mismatch between the disbursement of funds and the university’s fee payment deadlines. “This refund will directly address the concerns of students who paid their fees prior to the disbursement of their loan funds,” said Sawyerr.
In addition, NELFUND’s leadership reminded tertiary institutions of their agreement not to prevent students, particularly those verified under the loan scheme, from participating in academic activities due to unpaid fees. The sensitization meeting also emphasized the importance of boosting student participation in the loan scheme, while urging beneficiaries planning to migrate abroad to fulfill their loan repayment obligations.
UNILAG’s Vice-Chancellor, Prof. Folasade Ogunsola, represented by Prof. Musa Obalola, the Dean of Student Affairs, confirmed that a significant number of students have already received their refunds. She explained that the delay in refunds was due to a timing mismatch between NELFUND’s disbursement calendar and the university’s academic schedule. “Students are urged to provide accurate bank details to ensure swift processing of refunds,” Prof. Obalola added.
Despite the relatively low fees at public universities, Prof. Ogunsola acknowledged that many students still face financial struggles. She praised the federal government’s zero-interest loan scheme, highlighting its critical role in improving access to education and alleviating the financial burdens on students.
This latest development underlines NELFUND’s commitment to ensuring that students benefit from the loan scheme, as well as their efforts to address concerns and improve the overall process.
