- According to him, ₦89.94 billion was paid directly to 263 tertiary institutions to cover tuition and institutional charges
- He added that while 283,275 applications for the session have been verified, 13,026 applications were rejected following the screening process
- He further disclosed that a total of 864,798 students have so far benefited from the Federal Government’s student loan scheme
The Nigerian Education Loan Fund (NELFUND) has commenced the disbursement of outstanding upkeep allowances to 11,685 students who were unpaid during the 2024/2025 academic session, bringing relief to beneficiaries affected by earlier delays.
Eko Hot Blog reports that the unpaid allowances, amounting to ₦927 million, were uncovered during a routine reconciliation exercise carried out by the Fund to review student upkeep payments nationwide.
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Speaking at a press conference in Abuja on Tuesday, the Managing Director of NELFUND, Akintunde Sawyerr, explained that the delays were caused by technical and operational challenges, including temporary network downtime, failed transactions and difficulties in validating some students’ bank account details at the time of payment.
Sawyerr said the management approved a one-time reconciliation process in line with President Bola Tinubu’s directive on accountability and efficiency in public service.
He noted that the intervention includes direct engagement with affected students, a grace period for updating bank details, multi-layer verification involving IT, audit, finance and client support teams, and immediate payment once validation is completed.
“Our objective is clear and straightforward: every eligible student must receive what is due to them accurately, transparently and without delay,” the NELFUND boss stated.
He further disclosed that a total of 864,798 students have so far benefited from the Federal Government’s student loan scheme, with overall disbursements reaching ₦161.97 billion.
According to him, ₦89.94 billion was paid directly to 263 tertiary institutions to cover tuition and institutional charges, while ₦72 billion was disbursed to students as upkeep allowances.
Sawyerr also announced plans to expand the Fund’s sensitisation efforts beyond campuses, revealing that NELFUND would intensify engagement with parents, guardians, traditional rulers and faith-based institutions across the country to deepen awareness and trust in the scheme.
He explained that outreach activities would extend to churches, mosques, motor parks and community spaces nationwide to ensure families fully understand the student loan programme and are empowered to support their children’s access to higher education.
Meanwhile, the Executive Director of Operations at NELFUND, Mustapha Iyal, disclosed that 325 tertiary institutions have been onboarded for the 2025/2026 academic session, with about 3.7 million students deemed eligible.
He added that while 283,275 applications for the session have been verified, 13,026 applications were rejected following the screening process.
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