The Nigerian Education Loan Fund (NELFUND) has resumed the disbursement of upkeep allowances to student beneficiaries who updated their bank account details from digital wallet platforms to commercial bank accounts. This marks a critical step forward in resolving weeks-long delays that had left many students without their entitled payments.
According to an official statement issued on Thursday, over 3,600 students who had previously registered with digital-only banking platforms have now successfully received their backlog of payments. The affected students had been urged to update their financial details on the NELFUND portal in order to align with new disbursement protocols requiring conventional commercial bank accounts.
This resolution comes after growing concerns among students, many of whom had expressed frustration over non-receipt of funds since the scheme’s initial rollout. NELFUND officials acknowledged the delays and commended the patience and cooperation of beneficiaries during the transition.
Students who are still awaiting payment and have yet to update their bank account information are advised to take immediate steps. They can either submit a support request via the official NELFUND portal or channel their complaints through the IT office of their respective institutions. Institutions are expected to compile unresolved cases and forward them to NELFUND for further action.
In the statement, the agency reiterated its commitment to ensuring that no eligible student is excluded from accessing support. The agency also emphasized the importance of using only official communication channels and urged students to assist peers who may be experiencing challenges with the update process.
“This resolution is part of our broader effort to enhance efficiency, transparency, and student-focused delivery of services,” said Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND.
The Nigerian Education Loan Fund was established to increase access to tertiary education through interest-free student loans and upkeep support. As the scheme scales nationwide, this latest development is expected to ease mounting pressure on student households and institutions.
Further updates are expected as NELFUND continues to streamline its disbursement processes and address technical issues that have slowed its initial rollout.