NELFUND has announced that students who successfully applied for the Federal Government’s loan scheme and are starting new academic sessions will begin receiving credit alerts from next week. Managing Director Akintunde Sawyerr clarified on Politics Today that initial alerts will go to those starting new sessions, with others following suit as their academic terms begin.

President Bola Tinubu recently launched NELFUND, revealing 170,000 applicants from universities, polytechnics, and colleges of education have accounts, but only 110,000 have completed processes. Beneficiaries include institutions paid on behalf of students and students receiving monthly stipends.

Sawyerr emphasized the program's aim to foster future leadership and socio-economic improvement. He noted that while 110,000 applicants are set to receive disbursements soon pending final verifications, requirements include JAMB numbers, matriculation numbers, BVNs, and NINs.

NELFUND currently holds about N35bn for disbursement, with more expected from Federal Inland Revenue Service taxes and other sources.