The Fund stated this during its stakeholders’ engagement session and technical workshop on system automation and the loan application process in Abuja on Monday.
The Fund cited a noticeable disparity in applications compared to other parts of the country.
The three-day event, which began on Monday with universities, will continue with polytechnics, monotechnics, and institutes tomorrow. The final day, on the 7th, will feature colleges of education, agriculture, health, and nursing.
Speaking , the The managing director and Chief Executive Officer of NELFUND, Akintundr Sawyerr, said the gathering is a critical milestone in the collective journey it has embarked upon to deliver a fully digitized, transparent, and student-centric financial aid system for Nigerian higher education.”
Responding to reports that NELFUND was paying students who have already graduated, he clarified that the Fund is handling government and taxpayers’ money, and no disbursement would be rushed.
“We have to adhere to our processes. If a person has already paid their fees in their final year, and we’ve paid their tuition, it is the obligation of that individual to go to school. I know my fees are now being paid by an officer.
“But to complain that you’ve already graduated and you’ve left, the fact of the matter is people applied in their final year. You have to go through a process that allows us to make sure that they are the ones who are actually applying and who actually need it. Again, let me just point out this thing about delays.”
According to him, the meeting is intended to influence how the platform evolves and how we address practical challenges faced by institutions and students alike.
Ifeoluwa Ehindero, Chairman of the House Committee on Students Loan, Scholarships, and Higher Education Financing, said for the system to be truly effective, there is need to modernise and streamline how we manage, track, and deliver these funds to deserving students.
According to him, by automating and optimising the NELFUND system, it aims to create a more transparent, efficient, and responsive process for loan applications, approvals, and disbursements.
“This is essential for the success of the initiative and will go a long way in ensuring that our students benefit in a timely and accountable manner.
“As members of the House of Representatives Committee on Student Loans, we have been working tirelessly to ensure that the legislative framework supports and facilitates these reforms. However, legislative efforts alone are not enough.
“We need your expertise, your feedback, and your active participation to make sure that we have a system that works for everyone from the students applying for loans to the institutions managing the funds.
“This workshop is not just a platform for training but also an opportunity for collaboration. As you interact with the NELFUND system, your insights into how we can improve its functionality will be invaluable in helping us refine and enhance it to meet the needs of our institutions and students.”
Executive Director of Operations at NELFUND, Mr. Iyal Mustapha, earlier disclosed in his presentation that over 576,058 students have registered, with a total application value of ₦170,437,179,836.
He also urged institutions in the South East and South South to improve sensitisation efforts for timely loan applications.
The representative of the National Universities Commission (NUC), Lawal Mohammed Faruk, said NELFUND is one of the best policies of the Federal Government.
“Our dream is to see NELFUND one day onboard all the students in the country, whether public or private,” he said.
