WorldStage Newsonline– The Nigerian Education Loan Fund (NELFUND) has called on the South-South and South-East regions to increase their participation in the student loan scheme.
The Managing Director, NELFUND, Akintunde Sawyerr said this during stakeholders’ engagement session and technical workshop on system automation and the loan application process in Abuja on Monday.
The three-day event, which began on Monday with universities, would continue with polytechnics, monotechnics, and colleges of education in coming days.
Sawyerr said the gathering was a critical milestone in the collective journey it has embarked upon to deliver a fully digitised, 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 was 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.
“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,” he said.
He added that the meeting was intended to influence how the platform evolves and how the fund addresses 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 was need to modernise and streamline how to manage, track, and deliver funds to deserving students.
Ehindero said by automating and optimising the NELFUND system, it aimed 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,” she said.
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.
Mustapha urged institutions in the South East and South South to improve sensitisation efforts for timely loan applications.
