The Nigerian Education Loan Fund (NELFUND) has resumed upkeep payments to more than 3,600 student beneficiaries who updated their bank details from digital wallet platforms to conventional commercial bank accounts.
The disbursement follows a backlog of delayed payments affecting students who had initially registered with digital-only banking services.
This was disclosed in a statement issued on Thursday, July 11, 2025, by Mrs. Oseyemi Olutayoyi, Director of Strategic Communications at NELFUND.
According to NELFUND, the successful payment of the affected students represents a significant breakthrough in resolving earlier disbursement issues.
“Over 3,600 students who previously registered with digital-only banking platforms have now successfully received their backlog of upkeep payments after updating their details to conventional commercial bank accounts on the NELFUND portal,” the statement read.
Steps for students yet to receive payment
NELFUND directed students who are still expecting their payments and have not updated their banking information to take immediate action. The agency advised such students to raise a support ticket on the NELFUND portal to begin the update process.
“Students who are yet to receive their upkeep payments and are still using digital wallet accounts are advised to raise a support ticket via the official NELFUND portal to request access for updating their bank details,” they said
It also provided an alternative route for resolution through institutional IT offices.
“Alternatively, students may report through the IT office of their institution, which will compile and forward all related cases to NELFUND for resolution,” they stated.
NELFUND reaffirmed its commitment to ensuring that no eligible student is excluded from receiving loan support due to technical constraints.
Students were also urged to continue engaging official NELFUND channels for assistance and to support one another in navigating the update process.
What you should know
As of July 11, 2025, data from the Nigerian Education Loan Fund (NELFUND) shows that a total of 666,818 students have registered on the student loan portal since it launched on May 24, 2024. Out of this number, 634,837 have successfully applied for loans.
- So far, 366,247 students have become beneficiaries of the loan scheme, receiving either tuition fees paid directly to their institutions or upkeep allowances transferred to their bank accounts.
- Cumulatively, the fund has disbursed N73.1 billion in loans, with N38.26 billion paid as institutional fees across 206 approved tertiary institutions.
Additionally, N34.85 billion has been paid out in upkeep allowances to individual student accounts.
