On Monday, the Nigerian Education Loan Fund presented an explanation for why certain students who have left school still receive the Fund’s monthly stipends.
During a press briefing in Abuja, Mustapha Iyal, the Executive Director of Operations at NELFUND, responded to questions from reporters by stating that the Fund was improving its system to identify graduates.
“We’re trying to update our system right now,” Iyal stated. Enhancing the student database is one aspect of this improvement.
We are unable to identify people who have left school without the update. Therefore, we are currently collaborating directly with institutions. Many applicants are not getting their next upkeep payment, according to the extensive data we have collected from these organizations. Why? since their data indicates that they are not active. “Inactive” indicates that they are no longer enrolled in classes.
We must examine a student’s enrollment status for the upcoming academic year in order to determine whether they have advanced to the next session or received a result that permits them to continue.
For the 2024–2025 session, we are currently updating our records. Our database indicates that a sizable portion of students might not get their subsequent maintenance payment. Why? because they were unable to continue into the following academic year and only attended the 2023–2024 session.
He also mentioned that continuous discussions about outstanding applications are taking place with institutions.
We have a procedure whereby, after receiving an application, we first internally confirm that the student’s provided documents are authentic. After verification, we forward the application to the school, requesting that they verify the student’s continued enrollment and the validity of the fee listed in our database. We proceed with the payment if the organization verifies the information and approves it.
President Bola Tinubu’s main education initiative, NELFUND, aims to increase access to education by lending money to underprivileged students.
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