The Nigerian Education Loan Fund (NELFUND) has debunked a viral claim that President Bola Tinubu approved life imprisonment for students who fail to repay their education loans after graduation.
NELFUND described the publication as “fake news” in a post on its official X account on Sunday, alongside an image of the purported newspaper front page circulating online.
The fabricated publication, dated Thursday, May 27, 2027, carried a sensational headline claiming that President Tinubu had ordered that students who failed to repay their education loans after graduation would be jailed for life.
NELFUND rejected the claim by placing a prominent red “FAKE” stamp across the purported newspaper front page, indicating that the alleged announcement did not originate from the government.
The clarification comes amid recurring misinformation surrounding Nigeria’s student loan programme, with NELFUND previously warning the public about fabricated circulars and notices falsely claiming that the loan disbursement programme had been suspended.
Contrary to the viral claim, the existing student loan framework does not prescribe life imprisonment for beneficiaries who fail to repay their loans.
NELFUND was established under the Student Loans (Access to Higher Education) Act, which was signed into law by President Tinubu and subsequently re-enacted in 2024.
The Fund is responsible for administering zero-interest education loans to eligible Nigerian students enrolled in public tertiary institutions.
The loans are designed to cover institutional charges and, where applicable, upkeep allowances.
Repayment under the existing framework also does not commence immediately after a beneficiary graduates.
The repayment obligation becomes due two years after completion of the National Youth Service Corps (NYSC) programme, subject to the beneficiary being employed or earning an income.
For beneficiaries in paid employment, the framework provides for the deduction of 10 per cent of their monthly salary, wages and other income at source by the employer for repayment of the loan.
Self-employed beneficiaries, meanwhile, are required to remit 10 per cent of their total monthly profit to NELFUND.
The repayment framework also makes provision for beneficiaries who remain unemployed and have no income after the repayment period.
Such beneficiaries may seek an extension by submitting a sworn statement in accordance with the procedure prescribed by the NELFUND Board.
The viral claim of life imprisonment therefore bears no resemblance to the repayment provisions outlined under the current student loan framework.
NELFUND’s latest intervention underscores the need for members of the public to verify purported government announcements and official notices before sharing them, particularly information relating to the student loan scheme.
The Fund has continued to use its official communication channels to distinguish genuine information from fabricated materials circulating online.
