President Bola Tinubu’s Special Assistant on Social Media, Olusegun Dada, has clarified that beneficiaries of the Nigeria Education Loan Fund are not yet required to begin repayment of their student loans and urged Nigerians to disregard contrary claims circulating online.
In a statement on his official X page on Saturday, Dada explained that repayment will only commence after a two-year moratorium following the completion of the National Youth Service Corps scheme.
“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 of NELFUND Managing Director, Mr Akintunde Sawyerr, who described the repayment process as “seamless, transparent, and fair.”
Sawyerr noted that the repayment obligation primarily falls on the employers of graduates who benefited from the loan scheme.
“We have a global standing instruction system in place to recover funds from defaulters attempting to evade repayment,” he added.
Addressing concerns about travel restrictions, Sawyerr said the loans do not impose any travel bans.
“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 clarified that repayment in the third year is collected at a rate of 10 per cent of the beneficiary’s income, and the responsibility is primarily on the employer.
“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,” he said.
Sawyerr emphasised that beneficiaries retain full freedom to travel and pursue their careers while ensuring that repayments support 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 broader effort to expand access to education and ensure sustainable support for future students.
