...Sawyerr Cites Data Privacy, Warns Against Stigmatising Beneficiaries; Reveals ₦375.28bn Disbursed Across 320 Institutions
The Nigerian Education Loan Fund (NELFUND) has dismissed calls for the publication of individual student loan beneficiaries, declaring that protecting the privacy, dignity and personal information of Nigerian students remains non-negotiable.
The Fund's Managing Director and Chief Executive Officer, Mr. Akintunde Sawyerr, made the position clear in an interview with The PUNCH, explaining that publicly identifying students who depend on educational loans could expose them to unnecessary embarrassment, stigmatisation and possible targeting.
Sawyerr stressed that although NELFUND would continue to provide information on beneficiary institutions and the number of students supported, publishing individual names would violate the privacy considerations guiding the scheme.
He explained that accessing an educational loan should not become a source of public embarrassment for students, particularly those seeking financial assistance to pursue their academic dreams.
In his words: “No, certainly not. There are data protection issues. If you borrow money from an institution or you borrow money from me, you don’t want to see it on a notice board or to see it on television that you borrowed money from me.
“Some people are embarrassed by taking loans. Also, some people don’t want to be targeted, so we’re never going to publish the names of individual beneficiaries. We’ll tell you the schools that we paid; we can tell you the numbers, but the data protection laws prevent us from giving out the names of individuals who have taken loans.”
Meanwhile, the latest figures released by the Fund reveal that NELFUND has disbursed an impressive ₦375.28 billion as of November 9, 2026, since the launch of its student loan application portal on May 24, 2024.
The amount comprises ₦194.77 billion released directly to tertiary institutions to settle approved tuition fees, while ₦180.50 billion has gone to students as upkeep allowances to support their daily living and academic needs.
NELFUND also recorded 1,675,474 student loan disbursements across 320 beneficiary institutions, highlighting the growing reach of the Federal Government's student financing programme.
On the repayment structure, Sawyerr reaffirmed that the loans would remain interest-free for now, while emphasising that the initiative is a loan programme and not a grant scheme. Beneficiaries are expected to fulfil their repayment obligations after completing their studies and securing employment.
He further explained that the Fund's long-term sustainability would not depend solely on loan recovery, as investments, donations and statutory allocations would also contribute to its financing.
Interestingly, Sawyerr disclosed that some beneficiaries had already commenced repayment, while some Nigerians had expressed willingness to support the initiative by sponsoring the educational expenses of other students.
In another development, NELFUND has introduced a tokenisation system to strengthen payment transparency, prevent duplicate tuition payments and give beneficiaries greater control over the settlement of their institutional fees.
Through the system, students receive electronic tokens on their mobile phones, which they use to authorise payments directly to their respective institutions.
The Fund has also introduced a price dispute feature on its application portal, empowering students to challenge tuition charges they consider excessive before proceeding with their loan applications.
Sawyerr explained that NELFUND could withhold funding from institutions over unreasonable fee increases, while the responsibility for disciplinary measures rests with relevant regulatory bodies, including the National Universities Commission (NUC), National Board for Technical Education (NBTE) and National Commission for Colleges of Education (NCCE).
With over ₦375 billion already disbursed and nearly 1.7 million student loan disbursements recorded, the programme continues to attract national attention, particularly over access to higher education, beneficiary protection, repayment and long-term sustainability.
For NELFUND, the position is clear: transparency in public disbursements must go hand in hand with protecting the dignity and privacy of the students whose educational dreams the scheme is designed to support.
