The Nigerian Education Loan Fund has dismissed as fake an image circulating online claiming that President Bola Tinubu had ordered life imprisonment for students who fail to repay their education loans after graduation.
NELFUND, in a post on its official X account on Sunday, shared the doctored image, which was designed to resemble the front page of The Daily Tribune dated Thursday, May 27, 2027.
The purported newspaper carried the headline, “Tinubu: All students who fail to repay their loan after graduation will go to jail for life.”
However, NELFUND overlaid the image with a large red “FAKE” stamp and urged the public to disregard the claim.
The agency has previously debunked several false publications concerning its operations, including fabricated circulars, claims about the suspension of upkeep payments and reports suggesting that beneficiaries were required to begin repaying their loans while still in school or immediately after graduation.
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 agency administers interest-free loans to eligible Nigerian students in public tertiary institutions to cover institutional fees and provide monthly upkeep allowances.
Under the law, beneficiaries are required to begin repayment two years after completing the National Youth Service Corps programme or receiving an exemption, provided they are gainfully employed.
Repayment is capped at 10 per cent of a beneficiary’s gross income or salary and may be deducted at source by employers where applicable. Self-employed beneficiaries are also required to remit a similar portion of their income.
Beneficiaries who remain unemployed after the stipulated two-year period may apply for an extension by providing a sworn statement.
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