The Nigerian Education Loan Fund (NELFUND) has commenced the payment of outstanding upkeep allowances to students who transitioned from digital wallets to verified commercial bank accounts. According to information made available to KIIN360, more than 3,600 beneficiaries have so far received their pending payments, following the successful update of their banking information on the official platform.
The development marks a significant milestone in NELFUND’s ongoing efforts to ensure smooth and timely disbursement of student financial support, particularly for those enrolled in the federal student loan scheme. The management of the Fund noted that the backlog of payments was primarily due to technical limitations associated with digital wallet systems initially used for transactions. To resolve this, students were directed to switch to traditional bank accounts that are easier to verify and integrate into the payment system.
NELFUND has urged students who are yet to receive their stipends to promptly update their bank details through the official student loan portal or by visiting their institution’s ICT or student affairs office for assistance. The Fund stressed the importance of accurate and complete information to avoid further delays in payment processing.
Officials also reiterated the Commission’s commitment to ensuring that no eligible student is left behind due to administrative issues. As the disbursement continues in batches, students are advised to remain patient while the system verifies and processes their data. The move is part of a broader strategy by NELFUND to improve efficiency and restore confidence in the federal government’s student support initiatives.
