NELFUND process now fully digitised… here’s what to know
NELFUND speaks on digitising its process.
The Nigerian Education Loan Fund (NELFUND) has officially announced the full digitisation of its student loan application process, a move aimed at simplifying access and enhancing transparency for thousands of Nigerian students.
This development was revealed during a stakeholders’ engagement session held in Abuja, where NELFUND’s Managing Director, Akintunde Sawyerr, confirmed that applicants will now be able to apply for student loans online through a streamlined, user-friendly platform.
As part of the new approach, NELFUND is collaborating with tertiary institutions across the country to integrate its loan application system directly into their existing school portals.
This means students can now select the loan option as part of their school registration process, without the need to access the NELFUND website separately. Sawyerr noted that the Fund would be deploying IT personnel to assist schools with the integration process, ensuring a smooth transition to the new system.
According to the agency, over 320,000 students have already benefitted from the loan scheme, while about 576,000 have registered on the portal. However, only around 516,000 of those completed their applications—an issue the digitised system aims to solve by reducing application errors and making the process more accessible.
The fully digitised system also addresses concerns of fraudulent activity by eliminating fake application portals and improving data verification through direct institutional linkage.
NELFUND Executive Director of Operations, Iyal Mustapha, highlighted the technical infrastructure supporting the transformation. He explained that an API will be used to connect the loan platform with individual school portals, allowing students to apply for loans using their existing academic records, thereby eliminating the need for manual data input.
This initiative underscores NELFUND’s commitment to ensuring that financial constraints do not hinder Nigerian students from pursuing higher education. By leveraging technology, the Fund hopes to deliver a more efficient, transparent, and fraud-resistant loan application experience. Monthly upkeep allowances and tuition fees will be paid directly to verified institutions once student data is authenticated.
With this new system in place, NELFUND is setting a new standard for public sector education financing in Nigeria, promoting accountability, efficiency, and equitable access to quality education.
