The Federal Government has announced the creation of a high-level committee to streamline and standardise fee payment processes across the country’s tertiary institutions.
This move aims to enhance financial operations between Nigerian universities and the Nigerian Education Loan Fund (NELFUND).
The Minister of Education, Dr Tunji Alausa, made the announcement in Abuja on Wednesday after a closed-door meeting with Vice-Chancellors of universities and NELFUND management.
Addressing the media, Alausa said that while universities had been receiving funds promptly, there was a pressing need to improve the timelines and efficiency of disbursement and notification processes.
He clarified that there was no fraud in NELFUND, contrary to earlier speculations by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
“The current processes are working, but we are working to better the system we have now.
“The aim is to serve both NELFUND and our citizens more efficiently, and align with the broader agenda of the current administration,” he said.
Alausa revealed that one of the major decisions reached during the meeting was the formation of a committee comprising representatives from NELFUND, the Ministry of Education, the National Universities Commission (NUC), and key university officials.
According to him, the committee’s primary task will be to standardise the nomenclature for student fees and charges across universities.
He explained that while the actual fee amounts might differ by institution, all universities would be required to adopt uniform terminology to ensure transparency.
“The committee will determine and publish standard timelines for when NELFUND will disburse funds and when universities must notify students,” he added.