The Nigerian Education Loan Fund (NELFUND) has dismissed as fake a viral claim that President Bola Tinubu ordered life imprisonment for students who fail to repay their education loans after graduation.
NELFUND described the claim as “fake news” in a post on its official X account on Sunday, where it shared the purported newspaper page carrying the allegation.
The image appeared to be the front page of The Daily Tribune dated Thursday, May 27, 2027, with a headline stating, “Tinubu: All students who fail to repay their loan after graduation will go to jail for life.”
The Fund placed a large red “FAKE” overlay on the image, rejecting the purported report.
NELFUND has in the past issued clarifications against fabricated circulars and notices, including claims about the suspension of upkeep payments and allegations that beneficiaries must begin repaying their loans while still in school or shortly after graduation.
The Fund was established under the Student Loans (Access to Higher Education) Act, which was signed into law by President Tinubu and re-enacted in 2024.
The agency administers interest-free loans to eligible students in public tertiary institutions to cover institutional fees and provide monthly upkeep allowances.
Under the law governing the scheme, repayment becomes due two years after completion of the National Youth Service Corps programme, or exemption from it, and only when the beneficiary is gainfully employed.
Monthly deductions are capped at 10 per cent of a beneficiary’s gross income or salary and are deducted at source by employers where applicable.
Self-employed beneficiaries are also required to remit a similar portion of their income.
NELFUND said beneficiaries who remain unemployed after the two-year period can seek extensions by providing a sworn statement.
