Over 3,600 students receive delayed allowances as NELFUND resolves banking issues
The Nigerian Education Loan Fund (NELFUND), has resumed the disbursement of upkeep allowances to student beneficiaries, following a major resolution of technical issues linked to digital wallet banking platforms.
In a statement released on Thursday, the agency confirms that over 3600 students have now successfully received their delayed payments after updating their bank account details from digital-only platforms to conventional commercial banks via the NELFUND portal.
According to Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND, this marks a significant breakthrough in addressing earlier disbursement delays that affected a portion of the student population relying on fintech-based wallets.
“The fund remains committed to ensuring that no eligible student is left behind,” the statement read, adding that the recent development reflects the agency’s broader strategy to improve efficiency, transparency, and a student-focused delivery of its financial support services.
Students are also being encouraged to engage only through official NELFUND channels and to assist peers who may be experiencing challenges in updating their bank details.
The resumption of payments is expected to restore confidence in the upkeep allowance component of Nigeria’s student loan scheme, as efforts continue to refine the digital infrastructure and accessibility of the fund’s services.
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