NELFUND Don Clear Air: No Be True Say Student Loan Defaulters Go Enter Jail for Life!

Reported by Musa Antiketu,| Journalist at Obaland magazine.

The Nigerian Education Loan Fund, NELFUND, don come out to clear the air on one message wey dey waka round social media, say President Bola Tinubu don approve life imprisonment for students wey no fit pay back their education loan after graduation.

NELFUND describe the information as fake news, and e warn members of the public make dem no believe or spread the false claim. The agency also share the picture of the fake newspaper front page wey people dey circulate, then mark am boldly with “FAKE”.

The fake publication, wey carry date of May 27, 2027, claim say President Tinubu don declare say every student wey no repay loan after graduation go spend the rest of im life for prison. NELFUND make am clear say the publication no come from government and e no represent the real position of the law.

According to reports from Channels Television, Punch, The Telegraph Nigeria, TVC News and Nigeria Info, NELFUND use im official X account on Sunday, September 6, 2026, to reject the claim and urge Nigerians to disregard am.

Under the current student loan arrangement, repayment no dey start immediately after person graduate. For beneficiaries wey go through National Youth Service Corps, repayment dey become due two years after dem finish NYSC or receive exemption, and the beneficiary must dey work or dey earn income before repayment condition apply.

For person wey get paid job, the repayment dey involve deduction of up to 10 per cent from salary, wages or other income. People wey dey run their own business also get repayment responsibility based on their income.

The arrangement also recognise say some graduates fit no get work after school. Where beneficiary remain unemployed after the period wey repayment suppose begin, there dey provision for the person to seek extension by providing the required sworn statement.

NELFUND no be stranger to misinformation about the student loan programme. The agency don previously come out to reject fake circulars and other false information about loan disbursement, upkeep payments and when beneficiaries suppose begin repayment.

The latest clarification dey important because misinformation about education loans fit create unnecessary fear among Nigerian students and their families. As the scheme continue to attract attention across the country, students and members of the public need to confirm sensitive information through NELFUND official communication channels before dem share am online.

For Obaland magazine, the key point be say there is no verified NELFUND policy wey dey impose life imprisonment on students simply because dem fail to repay their education loan. The viral newspaper-style publication wey carry that claim na fake material, according to NELFUND.

Wetin other media houses don report

• Channels Television
• Punch
• The Telegraph Nigeria
• TVC News
• Nigeria Info

NELFUND don reject viral claim say Nigerian students wey no repay education loan go face life imprisonment, calling the publication fake news.