NELFUND Plans Job Portal for Loan Beneficiaries, Insists on Refunds for Overpaid Students

The Nigerian Education Loan Fund (NELFUND) has revealed plans to launch a centralized job portal by 2026 to provide loan beneficiaries with early access to employment opportunities both within and outside Nigeria.

Managing Director of NELFUND, Akintunde Sawyerr, made the disclosure in Abuja on Thursday during a media engagement to mark one year since the scheme’s inception.

Sawyerr explained that the portal would serve as a hub for job listings from both public and private sectors, as well as international recruiters looking to hire Nigerians.

“We don’t just give a loan and leave students on their own. This job portal is our way of supporting their journey towards economic stability,” he said.

The NELFUND boss reiterated that loan repayment would only begin once beneficiaries secure employment, following the completion of their National Youth Service Corps (NYSC).

“If you don’t have a job, you don’t pay. And when you eventually get a job, your repayment starts fresh,” he stated.

“Once employed, 10 per cent of the beneficiary’s monthly income is deducted automatically by the employer and remitted to NELFUND, following verification through the NELFUND employment register.

“If an employee is laid off or resigns, the deductions stop. And in the event of death, the loan is written off. The family is not harassed,” he added.

On the issue of students who had already paid their fees before NELFUND disbursed funds to their institutions, Sawyerr called on affected schools to refund such payments.

“We’ve received multiple petitions from students who paid under duress only to find their fees had also been paid by NELFUND,” he said.

“Institutions must refund this money. It’s disappointing that some schools have ignored this responsibility,” he lamented, urging institutions to fulfil their “moral and professional duty” by returning the funds.

He further disclosed that anti-graft agencies such as the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) have begun questioning institutions over delays or outright refusal to refund students.

“If an institution cannot refund directly to the student, they can pay the money back to us and we will ensure it gets to the rightful student,” Sawyerr said.

Also speaking at the event, Executive Director of Operations at NELFUND, Mustapha Iyal, said the agency currently manages over 3.2 million student records.

He noted that the Fund projects about one million new loan applications by the end of 2025, even though applications are voluntary.

“Basically, our projection right now, we have about 3.2 million students in our system.

“What we’re looking at this year, from now to the end of the year, we’re looking at about one million applications. We’re not pushing. We’re not saying that it’s compulsory.

“But we’re looking at how we can support one million applications to make sure that no one is dropping out of school,” he said.