NELFUND Identifies N927.98 Million in Student Upkeep Arrears, Cites Technical Hurdles
The Nigerian Education Loan Fund (NELFUND) has announced the identification of N927.98 million in unpaid student upkeep allowances owed to 11,685 beneficiaries. The discovery followed a comprehensive reconciliation exercise after the 2024/2025 academic session. Managing Director Akintunde Sawyerr disclosed these figures during a press briefing in Abuja, detailing the scheme’s progress and operational challenges.
Sawyerr clarified that the arrears were not due to a policy failure or withheld funds but resulted from technical issues such as failed bank transactions, network downtime, and unvalidated student bank details. He emphasized the scheme’s overall success, noting that 1,361,011 applications have been received since inception, with 864,798 students already benefiting. Total disbursements stand at N161.97 billion, comprising N89.94 billion for tuition fees paid directly to 263 institutions and N72.03 billion in upkeep allowances paid to students.
To resolve the outstanding payments, NELFUND management has approved a one-time reconciliation process. This initiative involves direct engagement with affected students, a grace period for updating bank details, and a multi-layer validation system before payment. The Executive Director of Operations, Mustapha Iyal, noted that the arrears represent a small fraction of the over 400,000 students covered in the 2024/2025 session. He confirmed that feedback has been received from over 100 institutions to validate data, and settlement of the outstanding upkeep allowances is expected to commence shortly.
Looking forward, Iyal stated that applications for the 2025/2026 academic session opened in November 2025, with over 200 institutions submitting data, leading to approximately 280,000 applications and disbursements to more than 150,000 students already. On repayment, he confirmed that the process has commenced, with some graduates who have secured employment beginning to fulfill their obligations. As NELFUND works to clear these arrears, its activities continue alongside other significant national developments, such as when Resident Doctors resume negotiations, the top UN court deliberates on international matters, and states like Anambra and Zamfara move forward with local initiatives. Meanwhile, as the Reps constitute committees on various issues and public discourse continues on topics like #freennamdikanu, court activities across the nation remain a focal point for governance and justice.
