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The Nigerian Education Loan Fund has debunked viral social media reports claiming that President Bola Tinubu announced life imprisonment penalties for beneficiaries who fail to repay their student loans after graduation.
Addressing the misinformation via its official X account, NELFUND posted a graphic showing a newspaper cover titled “Tinubu: All students who fail to repay their loan after graduation will go to jail for life,” explicitly tagging the viral image as doctored and fake.
The clarification comes as a recent research report highlights how the federal student loan framework continues to cushion undergraduates against escalating academic costs and inflation across Nigerian tertiary institutions.
A recent study titled “Adoptability and Efficiency of the Nigerian Education Loan Fund (NELFUND) Scheme in Southwest Nigeria” revealed that 83.7 percent of student beneficiaries credited the funding support with keeping them enrolled in school.
Conducted by the Development Agenda for Western Nigeria Commission, the assessment surveyed 1,022 undergraduates at the University of Ibadan to evaluate program awareness, application processes, disbursement speed, and overall operational efficiency.
The findings demonstrated that awareness of the NELFUND initiative among university undergraduates reached an overwhelming 99 percent across the sampled institution.
Researchers concluded that the funding mechanism offers substantial evidence of expanding tertiary education access for financially vulnerable students across Southwestern Nigeria.
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