The Nigerian Student Loan Fund (NELFUND) says it is ‘’working internally’’ to resolve all pending issues affecting the disbursement of institutional fees and upkeep allowance of some students approved for the scheme.
This assurance by NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, followed an appeal letter to the Independent Corrupt Practices and Other-Related Offences Commission (ICPC) Chairman, Musa Adamu Aliyu (SAN), by Taiwo Agunloye.
a Physiotherapy student of the Nnamdi Azikiwe University(NAU), Awka in Anambra State.
The ICPC confirmed receipt of the letter on its X handle and “forwarded to the appropriate department for action.”
In the letter, which NELFUND admitted to having a copy, Agunloye said some successful applicants of the loan had yet to receive their fees remitted to their institutions and their upkeep allowances paid eight months after they were cleared as beneficiaries.
Responding to the letter, Oluwatuyi, “We had received it (letter) earlier and are currently working internally to resolve all pending issues.”
The letter by Agunloye reads: “I am writing to formally draw your attention to a persistent and unresolved issue affecting a large number of students who applied for the 2023/2024 NELFUND Student Loan Scheme, particularly the monthly upkeep loan.
“As part of the application process, many of us were initially required to provide bank details, which at the time included Microfinance Banks. However, we were later instructed by NELFUND to change these account details to those of regular commercial banks to facilitate disbursement.
‘’ In good faith and compliance, we made the required changes and the updates reflected promptly on our respective student loan portals.
“Unfortunately, despite our adherence to these directives and the passage of over eight months, we have yet to receive any payment under the monthly upkeep provision.
‘’Our counterparts, who either did not change their bank accounts or had no complications, are currently receiving the monthly stipends, leaving the rest of us stranded and unfairly disadvantaged.
“Numerous complaints and follow-up efforts to engage NELFUND have yielded no concrete resolution, which has deeply affected our academic welfare, mental wellbeing, and general ability to survive on campus. The upkeep loan was designed to ease the financial burden of education on Nigerian students and for many of us, it is our only source of sustenance in school.
“We are now appealing to your highly respected office and other relevant government authorities to urgently look into this matter.
‘’We seek transparency, fairness and swift rectification so that no student is excluded due to a technical or administrative issue caused by compliance with official directives.
“We believe that such a large-scale oversight demands not only investigation but also immediate corrective action to ensure that this laudable initiative by the Federal Government fulfilled its purpose without discrimination or neglect.
“We appreciate your swift attention to this matter and sincerely hope for your intervention in ensuring that justice is served and affected students receive their rightful financial support without further delay.”
In a post on its X handle (formerly Twitter) yesterday, NELFUND said it has so far disbursed N73,113,908,545.00 for both the upkeep allowance of students and institutional fees.
A breakdown of the figure shows that N34.9 billion was remitted as upkeep allowances to beneficiaries.
The figures further showed that NELFUND paid N38.3 billion as institutional fees.
The organisation put the number of students benefiting from the scheme at 366,247 and tertiary institutions at 206.
According to NELFUND, 624,557 students have so far applied for the loan, while 657,938 are registered.
