NELFUND Begins Disbursement Of Student's Upkeep Funds for the month

Nelfund upkeep Funds disbursement

 NELFUND Begins Disbursing Student Upkeep Funds After Bank Detail Update

The Nigerian Education Loan Fund (NELFUND) has officially commenced the disbursement of student upkeep payments following a major system upgrade requiring students to update their bank account details. This development comes as a major relief to thousands of Nigerian students who have faced delays in receiving their funds due to the use of digital-only bank accounts.

Over 3,600 Students To Receive Upkeep Payments

In a public statement released on Friday by the Director of Corporate Communications, Oseyemi Oluwatuyi, NELFUND confirmed that more than 3,600 students have now received their outstanding upkeep payments. These students had previously registered with digital wallet platforms but successfully updated their information to conventional commercial bank accounts through the NELFUND portal.

Oluwatuyi described the progress as a “significant breakthrough,” noting that the backlog was cleared swiftly once the bank details were corrected.

Why the Delay Happened

Originally, many student beneficiaries registered for the education loan using digital-only banking platforms. However, due to compatibility issues and transaction processing delays with these platforms, the disbursement process was hindered. The fund required students to transition to conventional bank accounts to ensure smoother and more secure payments.

What Students Should do while Waiting On The Payment

NELFUND has issued a clear directive for students who are still waiting to receive their upkeep funds:

Log into the NELFUND portal and raise a support ticket requesting access to update your bank account details.

Alternatively, visit the IT department of your institution. Your school will gather all unresolved cases and forward them to NELFUND for proper handling.

This new system is part of the fund’s broader efforts to make the loan process more efficient, transparent, and student-focused.

 Stick to Official Channels

Students are strongly advised to interact only through official NELFUND communication platforms to avoid falling victim to scams or misinformation. The organization also encouraged beneficiaries to help fellow students who may struggle with updating their bank information or navigating the support process.

NELFUND Thanks Students for Their Patience

Expressing gratitude, Oluwatuyi praised the resilience and cooperation of the student community.

> “Your patience and understanding have played a vital role in making this progress possible,” he said.

NELFUND reaffirmed its commitment to ensuring that no eligible student is left behind, promising to continue improving the reliability and inclusivity of Nigeria’s student loan scheme.

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