NELFUND Set To Launch Employment Portal For Early Job Seekers

The Nigerian Education Loan Fund (NELFUND) has announced plans to launch a centralized job portal by 2026 to support student loan beneficiaries with early access to employment opportunities, both locally and internationally.

Managing Director of NELFUND, Akintunde Sawyerr, disclosed this during a media briefing in Abuja on Thursday, marking one year since the scheme’s launch.

While clarifying that NELFUND does not guarantee jobs, Sawyerr explained that the upcoming portal will aggregate job listings from both the public and private sectors, as well as international organizations interested in hiring Nigerian graduates.

“We don’t just give out loans and leave students to their fate,” he said. “This job portal is part of our effort to support beneficiaries on their path to financial independence.”

Sawyerr reiterated that loan repayment only begins after beneficiaries secure employment and complete their National Youth Service Corps (NYSC) programme.

“If you don’t have a job, you don’t pay,” he emphasized. “When you do get employed, 10% of your monthly income is automatically deducted by your employer and remitted to NELFUND through our employment register.”

He added that repayments pause if the borrower loses their job or resigns, and in the event of the beneficiary’s death, the loan is written off with no burden placed on the family.

On the issue of students who paid their school fees before NELFUND disbursed funds directly to institutions, Sawyerr appealed to affected schools to refund such payments.

“We’ve received multiple complaints from students who paid under pressure, only to find out their schools also received payment from NELFUND,” he said.

“It is both a moral and professional obligation for institutions to return that money.”

He disclosed that anti-corruption agencies like the ICPC and EFCC are already investigating institutions that have failed to issue refunds.

“If a school is unable to refund directly to the student, they can return the funds to us, and we’ll ensure the students receive them,” he added.

Also speaking at the event, NELFUND Executive Director of Operations, Mustapha Iyal, noted that the agency currently manages over 3.2 million student records. He projected that the Fund may receive up to one million new applications by the end of 2025.

“This is not a target we’re forcing,” Iyal said. “But we’re focused on supporting every student in need so that no one drops out of school due to financial hardship.”