Fake news, no student will go to jail for loan default – NELFUND

 The Nigerian Education Loan Fund, NELFUND, has debunked the
speculation that President Bola Tinubu, has approved life imprisonment for
students who fail to repay their education loans after graduation.

 

In a post on its verified X handle on Sunday, NELFUND
described the claim as fake news.

According to the agency, the purported announcement did not
originate from the government.

NELFUND also published an image of the purported newspaper
front page being circulated online with the headline alleging that Tinubu had
declared: “All students who fail to repay their loan after graduation will go
to jail for life.”

“There’s no life jail term for students who fail to repay
loans. The speculation is fake,” the agency said.

Recall that the agency has previously refuted fabricated
circulars and notices concerning the suspension of the student loan
disbursement programme.

NELFUND was established under the Student Loans (Access to
Higher Education) Act, which was signed into law by President Tinubu and
re-enacted in 2024.

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