The Nigerian Education Loan Fund (NELFUND) has responded to media reports that it paid institutional fees and upkeep allowance to students who have already graduated.

NELFUND insisted that it has stringent measures to ensure transparency and accountability in the disbursement of funds to eligible students.

This is even as the Fund has tasked the South-South and South-East regions to take greater advantage of the student loan scheme.

Managing Director and Chief Executive Officer of NELFUND, Akintunde Sawyerr, stated this on Monday in Abuja during a stakeholders’ engagement session and technical workshop on system automation and the loan application processes.

Sawyerr stated that the event marks a significant step towards creating a fully digital, transparent, and student-focused financial aid system for higher education in Nigeria.

He said, “We have to adhere to our processes. If a person has already paid their fees in their final year, and we have paid their tuition, it is the obligation of that individual to go to school. I know my fees are now being paid by an officer.

“But to complain that you have already graduated and you have left, the fact of the matter is that 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. Again, let me just point out this thing about delays.”

He added that the meeting aims to shape the platform’s development and tackle real-world issues encountered by both institutions and students.

The Managing Director cited a noticeable disparity in applications in the South-South and South East regions compared to other parts of the country.

Also, Executive Director of Operations at NELFUND, Mustapha Iyal, disclosed that over 576,058 students have registered, with a total application value of N170,437,179,836.

He urged institutions in the South East and South South to improve sensitisation efforts for timely loan applications.

In his intervention, the Chairman, House Committee on Students Loan, Scholarships, and Higher Education Financing, Ifeoluwa Ehindero, emphasized that to maximize effectiveness, the system requires modernization and streamlining of fund management, tracking, and delivery to eligible students.

According to him, by automating and optimising the NELFUND system, it aims to create a more transparent, efficient, and responsive process for loan applications, approvals, and disbursements.

He said: “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. As you interact with the NELFUND system, your insights into how we can improve its functionality will be invaluable in helping us refine and enhance it to meet the needs of our institutions and students.”

The Guardian reports that the three-day event, which began on Monday with universities, will continue with polytechnics, monotechnics, and institutes on Tuesday. It will also feature sessions with colleges of education, agriculture, health, and nursing on Wednesday. (The Guardian)