In a statement on Saturday, the fund said it has issued no repayment directive and warned the public against circulating unverified information that could cause unnecessary anxiety among students.
NELFUND explained that the clarification followed a statement by the Vice Chancellor of the University of Benin, Prof. Edoba Bright Omoregie, who disowned a purported circular detailing repayment procedures. The university, according to NELFUND, confirmed that the document did not originate from it and that no such guideline has been issued by the fund or the federal government.
The agency said repayment conditions are clearly stated in its establishing law, stressing that beneficiaries are not required to repay loans while in school or if they remain unemployed after graduation.
NELFUND added that repayment will only begin, in line with the law, after beneficiaries secure gainful employment.
It urged students, parents and institutions to disregard the fake circular and rely only on verified information from NELFUND and official government channels, reaffirming its commitment to transparency, due process and student welfare.
