NELFUND Chief Announces Payment Rollout For Students Starting Next Week

NELFUND Chief Announces Payment Rollout For Students Starting Next Week

The Managing Director of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, revealed that students enrolled in tertiary institutions and approved for the Federal Government’s loan scheme will begin receiving funds starting next week as they commence their new academic sessions……. CONTINUE READING 

Speaking on Channels Television’s Politics Today, Sawyerr clarified that other successful applicants will receive their credit alerts once their respective academic sessions commence.

“The first recipients of credit alerts, starting as early as next week, will be students beginning a new session at their institutions,” he stated.

Sawyerr’s announcement followed the launch of NELFUND by President Bola Tinubu at the State House in Abuja, where it was disclosed that 170,000 applicants from universities, polytechnics, and colleges of education have established accounts with NELFUND, with 110,000 having completed the application process.

He emphasized that the loan program aims to foster future leadership and enhance Nigeria’s socio-economic landscape.

“Currently, over 110,000 applicants have been verified as eligible to receive disbursements, pending further verification. These loans support both new and current students,” Sawyerr elaborated.

He outlined the necessary requirements for applicants, including JAMB numbers, matric numbers, Bank Verification Numbers (BVN), and National Identification Numbers (NIN).

“The current commitment to students totals approximately N35 billion, with additional funds available for disbursement and future funding expected from various sources,” Sawyerr added.