President Bola Tinubu has directed that liquid funds recovered by the Economic and Financial Crimes Commission (EFCC), along with unclaimed dividends held in the Capital Market Trust Fund and Dormant Account Trust Fund, be transferred to the Nigerian Education Loan Fund (NELFUND). Minister of Education, Dr Tunji Alausa, disclosed this after Wednesday’s Federal Executive Council meeting at the Presidential…
The Nigerian Education Loan Fund (NELFUND) has commenced the disbursement of June and July upkeep allowances to student beneficiaries nationwide, bringing relief after weeks of complaints over delayed payments. The National Association of Nigerian Students (NANS) confirmed the development on Friday, while several beneficiaries shared screenshots of successful credit alerts on X, indicating that payments…
Abuja, Nigeria – The National Association of Nigerian Students (NANS) has threatened to embark on a nationwide protest over the alleged two-month delay in the disbursement of students’ upkeep allowances under the Nigerian Education Loan Fund (NELFUND) scheme. In a statement issued on Saturday, NANS President, Comrade Akinteye Babatunde Afeez, expressed concern over the prolonged delay,…
The Nigerian Education Loan Fund (NELFUND) has disbursed ₦392,876,550 in student loans to Delta State University, benefiting 1,854 students. In a statement shared via its official X account, NELFUND said the disbursement is intended to ease financial burdens on students and enable them to focus more effectively on their academic pursuits. The university confirmed receipt…
The Nigerian Education Loan Fund (NELFUND) has officially opened its online portal for student loan applications for the 2025/2026 academic session, enabling eligible students to apply for financial aid to support their higher education. This announcement was made in a statement posted on NELFUND’s official X (formerly Twitter) account on Tuesday, titled “NELFUND Announces Opening…
The Nigerian Education Loan Fund (NELFUND) has reassured stakeholders that its operations will not be disrupted by the ongoing industrial action declared by the Academic Staff Union of Universities (ASUU). Speaking on The Morning Brief, a breakfast programme on Channels Television, NELFUND’s Managing Director and Chief Executive Officer, Akintunde Sawyerr, expressed optimism that the strike…
The Nigerian Education Loan Fund (NELFUND) has officially closed its application portal for the 2024/2025 academic session to finalize pending applications and upkeep payments. The loan portal will reopen in the second week of October for new applications, remaining open until January 2026, aiming to expand access to interest-free student loans. NELFUND’s Managing Director, Akintunde…
The Nigerian Education Loan Fund (NELFUND) announced on Thursday that the disbursement of upkeep loans will now be strictly aligned with the academic calendar of each institution. This update was disclosed in a statement signed by Oseyemi Oluwatuyi, NELFUND’s Director of Corporate Communications. “Following this new policy, students will only receive upkeep loans during their…
The Nigerian Education Loan Fund (NELFUND) has called on student leaders across tertiary institutions to take ownership of the newly introduced interest-free education loan scheme. Speaking during a stakeholders’ engagement session and technical workshop on NELFUND system automation and loan application processes in Abuja, the Executive Director of Operations, Iyal Mustapha, encourages student leaders to…
NELFUND Denies ₦71bn Misappropriation, Affirms Integrity of Student Loan Scheme The Nigeria Education Loan Fund (NELFUND) has firmly denied reports alleging that ₦71 billion has gone missing from the student loan scheme it manages. This comes in response to a recent report suggesting that some educational institutions may have diverted funds intended for student loans,…
