NELFUND moves to stop students collecting double payments
The Nigerian Education Loan Fund (NELFUND) has announced plans to tackle alleged double-dipping by students who receive government-backed education loans while allowing their parents to continue paying their tuition fees.
NELFUND’s Managing Director, Akintunde Sawyerr, disclosed the plan at a press briefing on Wednesday, saying the fund would introduce a mechanism enabling parents to verify whether their children’s institutional fees had already been paid through the student loan scheme.
“This comment is based on our recognition that there are so many students out there who are double-dipping. They are taking from the NELFUND and still stressing their parents,” Sawyerr said.
“We are going to put an end to that.”
Under the proposed arrangement, parents will be able to confirm whether tuition payments have been made without necessarily accessing details of the amounts involved.
HAPPY BIRTHDAY, SIR
HIS EXCELLENCY, RT. HON. AHMADU UMARU FINTIRI
HAPPY 59TH BIRTHDAY, YOUR EXCELLENCY! The Governing Council, Management, Staff and entire University Community of Adamawa State University, Mubi, heartily felicitate with Your Excellency on the joyous occasion of your 59th birthday. We celebrate your commitment to educational advancement and the development of Adamawa State. May Almighty God grant you sound health, divine wisdom, long life and greater accomplishments. Happy 59th Birthday, Your Excellency!
Professor Clement Augustine, Vice Chancellor, ADSU, Mubi
Sawyerr said the measure was intended to strengthen transparency, prevent potential abuse and protect parents from making unnecessary payments.
He also announced plans to organise re-education workshops across Nigeria’s six geopolitical zones to explain changes to the loan scheme and clarify payment procedures.
According to him, the workshops will target students, parents and tertiary institutions, focusing on institutional charges, upkeep allowances and documentation requirements.
“This is not sensitisation. This is re-education of the stakeholders and the students as to the changes that we have made in their favour,” he said.
NELFUND’s Executive Director, Mustapha Iyal, explained that the fund processes institutional payments using students’ application identification numbers and wallet numbers rather than conventional bank account details.
“To be clear, we don’t use account numbers. We use their application ID and wallet number,” Iyal said.
He explained that institutional fees are processed separately from upkeep allowances, which are transferred directly to beneficiaries’ personal bank accounts through external payment platforms.
Iyal identified NIBSS Instant Payments and Paystack among the channels used for upkeep disbursements, noting that delays could arise from the financial institutions processing transactions.
He disclosed that the pilot phase of the payment system covered approximately 400,000 students, with about 20,000 additional students recorded within a week.
According to him, the system processes transactions for nearly 5,000 students daily.
The proposed verification mechanism forms part of NELFUND’s efforts to improve accountability as the Federal Government expands access to tertiary education through its student loan programme.