EXPLAINER: How unemployed NELFUND beneficiaries can notify FG of status
Unemployed beneficiaries of the Nigerian Education Loan Fund student loan are required to formally notify the Fund of their employment status if they remain without a job two years after completing the National Youth Service Corps programme. According to NELFUND’s published guidance sighed by PUNCH Online on Friday, beneficiaries who are still unable to secure Read More:…
For those who have received a loan from the Nigerian Education Loan Fund and have not found employment two years after completing their National Youth Service Corps program, the Fund requires formal notification of their current situation. This obligation, outlined in NELFUND's guidance, applies to those still without a job after the post-NYSC period.
Beneficiaries must swear an affidavit confirming their unemployment every three months until they secure a position. This sworn court affidavit serves as a formal declaration of their continued unemployment status to the Fund. Once sworn, the beneficiary must notify NELFUND and provide the necessary documentation to maintain a record of their employment status.
This requirement continues indefinitely until the beneficiary secures employment. If an unemployed beneficiary finds work, they must inform NELFUND, allowing the Fund to apply the appropriate repayment arrangement. Typically, 10 percent of the beneficiary's salary will be deducted at source by their employer, with the funds remitted to the Fund.
Written by urgent.news from Punch's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
