The Nigerian Education Loan Fund, NELFUND, has declared that any unauthorised deductions from student loans will be treated as a criminal offence.
Addressing education leaders in Abuja, NELFUND Managing Director Akintunde Sawyer stated that while the Fund cannot dismiss or suspend erring institutional heads, cases of misconduct will be escalated to the Minister of Education for disciplinary action.
Also Read: Student Loan Will Commence With Federal Institutions, Says NELFUND
Institutions found violating disbursement terms, he said, would be held accountable to protect the integrity of the loan scheme.
Mr. Sawyer stressed that NELFUND would not permit President Bola Tinubu’s education access initiative to be derailed by malpractice or self-interest, warning that full compliance with funding conditions is non-negotiable.
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