Nelfund Begins Disbursement to Students with Updated Bank Account

The Nigerian Education Loan Fund (NELFUND) has begun disbursing upkeep allowances to student beneficiaries who have updated their bank account details from digital wallets to traditional commercial bank accounts.

In a statement released on Friday, the Director of Corporate Communications at NELFUND, Oseyemi Oluwatuyi, described the development as “a significant breakthrough in resolving earlier disbursement delays.”

According to him, “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.”

He appreciated the patience and cooperation of those affected, saying, “We appreciate the patience and understanding of all affected students during this period. Your resilience and cooperation have made this progress possible.”

For students who are still awaiting payments, Oluwatuyi advised them to take immediate steps. “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. Alternatively, students may report through the IT office of their institution, which will compile and forward all related cases to NELFUND for resolution.”

He further stressed NELFUND’s commitment to supporting all eligible students. “NELFUND remains committed to ensuring that no eligible student is left behind. This resolution process is part of our broader effort to enhance the efficiency, transparency, and student-centred delivery of our support services.”

Oluwatuyi urged all students to continue engaging only through official platforms. “We urge all students to continue engaging only through official NELFUND channels, and to assist peers who may require help navigating the update process. Once again, we thank you for your patience and support as we continue working to deliver a more inclusive and reliable student loan experience.”