Lagos, Nigeria
Wahala don show! The Nigerian Education Loan Fund (NELFUND) don drop serious gist wey fit shake ground for our tertiary institutions. Dem don warn say any school wey dey catch am for fraudulent practices go face the music. You fit ask wetin dey happen? I go tell you! Dem dey yan say if school dey falsify students’ records, dey collude with students to chop loan money, or dem dey fail to return any overpaid funds, dem go receive sanction. E no go better for dem!
This latest memo wey dem release, wey PUNCH gather as dem drop am for Tuesday, dey shine light on wetin fit happen if any institution dey misbehave. According to the guidelines, schools wey eligible to get dis money go need to return any overpayment wey dem make for students. No be small thing o, dem go need to process refunds within 30 days or any time wey the board fit determine. So, you better make sure sey your school no dey play fast game with money!
NELFUND come dey proclaim say, if any school no follow di rules under the Student Loan Act of 2024, dem go face suspension from collecting any more funds. Dem dey serious for this matter o! Dey talk am straight: if school dey falsify student info, dey collude with students, or no dey refund any overpayment, dem fit kiss their access to funds goodbye. How you see that one? E be like say dem really mean business!
Plus, dem don also talk say if dey suspect bad behavior or wahala dey go on, dem fit even put disbursements on hold while dem dey investigate. But no worry, wetin dey concern present students go remain intact, except if na overpayments or duplicate money wey dey cause the issue. So, if you don apply for loan, no be una wey dem go touch!
Na Deborah, wey don spend three years dey cover education sector, politics, and all di only things wey sabi, report dis gist. E really no be small wahala, but at least dem don release di guidelines to help put every school for check. Eritin fit happen if dem no take am seriously o!
Make you dey follow up make sure your school no dey chop loan wey no belong to dem. Dem say prevention na beta medicine o!
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