Nigeria's NELFUND cracks down on universities over fee hikes and delayed loan refunds

The Nigerian Education Loan Fund (NELFUND) has publicly condemned unethical practices by a number of public tertiary institutions that have delayed or refused to refund students who paid tuition before the Fund’s disbursement of loans. In a statement issued on Monday, 29 June 2026, Director of Strategic Communications Oseyemi Oluwatuyi warned that some schools are also imposing arbitrary increases in tuition and ancillary fees, actions that undermine the student loan scheme introduced by President Bola Tinubu.

NELFUND said it is engaging the affected institutions, the Ministry of Education and federal anti‑graft agencies to audit banking records, flag double payments and ensure immediate refunds to eligible students. The Fund announced that schools that continue to withhold refunds will be blacklisted and suspended from future loan funding cycles. It reaffirmed its commitment to protecting students’ interests and preserving the integrity of the national education financing intervention.