By Asiwaju Adekunle Saheed
The Nigerian Education Loan Fund has dismissed as fake news a circulating image claiming that President Bola Tinubu announced life imprisonment for students who fail to repay their education loans after graduation.
In a post on its official X account, NELFUND shared the doctored image, which purportedly showed the front page of a newspaper dated Thursday, May 27, 2027, and urged the public to disregard the claim entirely.
The fabricated headline read that all students who fail to repay their loan after graduation would go to jail for life, a claim NELFUND stamped with a large red fake overlay to counter its spread.
The Fund noted it has previously issued clarifications dismissing similarly fabricated circulars, including false notices about suspended upkeep payments and claims that beneficiaries must begin repayment while still in school.
NELFUND was established under the Student Loans Access to Higher Education Act, signed into law by President Tinubu and re enacted in 2024, and administers interest free loans to eligible Nigerian students in public tertiary institutions.
Under the law, repayment becomes due two years after a beneficiary completes the National Youth Service Corps programme, and only when the beneficiary is gainfully employed, with monthly deductions capped at 10 percent of gross income and unemployed beneficiaries able to seek extensions through a sworn statement.
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