By Doris Harris
The Presidency says no beneficiary of the Nigeria Education Loan Fund has reached the stage of loan repayment, urging Nigerians to ignore misleading reports.
The clarification was given by President Bola Tinubu’s Special Assistant on Social Media, Olusegun Dada, in a statement posted on his official X handle on Saturday.
Dada explained that loan repayment will only commence after a two-year moratorium following the completion of the National Youth Service Corps, NYSC.
According to him, the scheme will attain two years in March 2026 from the time the first applications were submitted, noting that none of the beneficiaries has reached the repayment stage.
He urged Nigerians to disregard contrary information circulating on social media.
Dada also shared a video of the Managing Director of NELFUND, Akintunde Sawyerr, who described the repayment process as seamless, transparent, and fair.
Sawyerr explained that repayment is largely the responsibility of employers of beneficiaries, adding that deductions would commence at ten per cent of income in the third year after NYSC.
He further clarified that the loan scheme does not impose any travel restrictions on beneficiaries and allows graduates time to secure employment and settle down.
The NELFUND scheme is part of the Federal Government’s efforts to expand access to education and ensure sustainable funding for future students.
