Your Children May Be Collecting NELFUND Money Without Your Knowledge – Finance Minister Taiwo Oyedele Tells Parents

• Taiwo Oyedele has urged parents to check with their children to confirm whether they have applied for or received NELFUND funding, joking that some students could be collecting the money without their parents knowing.
• His comments have generated questions about the scheme, particularly whether NELFUND beneficiaries are required to repay the money and whether responsibility for repayment falls on the student or parent.

Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, has warned parents that their children may be receiving funding from the Nigerian Education Loan Fund (NELFUND) without their knowledge.

Oyedele made the statement during a media briefing in Abuja after a journalist claimed that his three children had not benefited from the scheme and that he did not know anyone who had.

The minister urged the journalist to ask his children whether they had applied and request proof of their applications.

“It is possible they’ve collected the money, and they are collecting from you,” Oyedele said, adding, “You need to ask your children to be honest with you.”

He also encouraged parents to help their children apply if they had not already done so, noting that students could receive up to N1.5 million through the scheme.

“If there’s anything that everyone can attest to, it is this NELFUND,” he said.

According to Oyedele, NELFUND support goes beyond tuition payments, with beneficiaries also receiving monthly stipends.

“We’ve seen video of student randomly rejoicing because it’s not only the tuition that was being paid, they get monthly stipend interest free in a high inflationary environment,” he said.

The minister advised parents who were unfamiliar with the application process to assist their children.

“You can go to the website. In fact, what you can do, ask any of those your three children to give you their details. Help them apply.”

Oyedele further disclosed that NELFUND has recorded higher uptake in Northern Nigeria compared to the South, attributing part of the difference to scepticism towards government programmes.

“Interestingly, the uptake is more in the North than in the South because we spend all our energy here doubting everything that government does,” he said.

The minister’s comments have sparked reactions online, with many Nigerians asking who is ultimately responsible for repaying the NELFUND loan and whether the money is meant for students or their parents.

Mercy Oluwaseun Aremu: My brother is guilty of this 😕. Nah only me know

Jemimah Bilewu Fashakin: Abeg who go pay? Parents or student

Xtîâñ Rîchard: True sha, the nelfund project has helped and is still aiding some students.

Thompson Egede: Na you give them?

Bolarinwa Abass Lanre: My question is, the loan is for student to benefit or parent?

Peter Mon: What’s the consequences?

Skipp Ralphie: informs parents abi informs students? 😂💔

Olusegun Ismail Kazeem: The question is Is NELFUND free?

Chidi Amaechi: Was the money collected to be paid back?

James Odah: This man won take style expose update sha.

Horlaytan Ameenah: Sorry,are those parents on social media and sheybi is the students that are paying back

Comr Robert Msughter: Then what Mr Minister?