FG Releases Guidelines For Transparency In NELFUND Scheme

The Federal Government has released new guidelines to standardise the administration of institutional charges with a view to ensuring transparency in the student loan scheme, NELFUND across universities, polytechnics, and colleges of education.

In a statement announcing the development, the Minister of Education, Dr. Maruf Alausa says the step reaffirms the Ministry’s commitment to Nigerian students and parents by addressing issues that recently arose with the scheme, adding that after a wide range of consultations with Vice-Chancellors, Rectors, and key stakeholders, the Committee found no evidence of mismanagement of the funds.

It emphasises the need for a harmonised system that strengthens trust, transparency, and efficiency in the loan administration process.

According to the statement, he Committee made far-reaching recommendations, including the creation of a harmonised fee nomenclature for tertiary institutions, strict timelines for internal verification and disbursement of funds, clear communication with students through multiple channels, and a uniform refund policy.

It also recommends that NELFUND engage the Central Bank of Nigeria to ease real-time access to accounts domiciled in the Treasury Single Account while ensuring that all processes are evidence based and supported by reliable data.

Under the new framework, guidelines issued by the Ministry wiould replace individual Memoranda of Understanding previously signed between NELFUND and tertiary institutions to streamline administration, improve operational efficiency, and guarantee that no eligible student is denied access to registration or examinations due to funding delays.

The Federal Ministry of Education assures the public that it will continue to monitor the implementation of these guidelines to ensure accountability, efficiency, and the full realisation of the NELFUND Student Loan Scheme.

PR/Nkiruka Okeke