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Tinubu government activates NELFUND loan repayment process for student beneficiaries.
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Universities receive guidelines detailing steps for repayment compliance.
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NELFUND disbursed ₦161.97bn to over 864,000 students nationwide.
The Federal Government has commenced the recovery of student loans disbursed under the Nigerian Education Loan Fund (NELFUND), less than two years after the scheme was launched.
This followed a circular dated January 23, 2026, issued by the University of Benin and signed by its Registrar, A.A. Bobola, notifying students who benefited from the loan of the commencement of repayment procedures.
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According to the circular, university management has received official guidelines from the Federal Government outlining the process for loan repayment and directing affected students to comply strictly with the stated steps.
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The notice emphasised a two-step repayment procedure, warning that failure to follow the process carefully could delay confirmation of repayments.
“Members of the university community, particularly affected students, are requested to take note and comply accordingly,” the circular stated.
The directive marks the first formal move by the Tinubu administration to recover funds issued through the NELFUND scheme, which was established by an Act signed into law in 2024 to support students in tertiary institutions.
Earlier this month, NELFUND Managing Director, Akintunde Sawyerr, disclosed that the fund had received over 1.36 million applications, with 864,798 students benefiting so far.
He added that total disbursement under the scheme currently stands at ₦161.97 billion, covering students across various higher institutions nationwide.