Student in Nigeria who wanted to explore the loan policy of the current government had faced challenges. After a weekend of frustration due to BVN verification issues, NELFUND announced that it has resolved the glitch.
Students can now log back into the portal, complete their verification, and continue with their loan applications.
Really, over the weekend, students across Nigeria faced a significant obstacle in their pursuit of educational funding.
A technical glitch with the Nigerian Education Loan Fund (NELFUND) disrupted the BVN (Bank Verification Number) verification process.
This caused delays for many who were applying for loans.
The problem began just before the weekend and continued through the public holiday, leaving many students stuck and unable to complete their loan applications.
This disruption caused understandable frustration as students were eager to secure financial support for their studies.
Good News Arrives
However, a recent update from NELFUND brings good news.
On Wednesday, the organisation announced that it had fully resolved the technical issue by Tuesday morning.
In their statement posted on X (formerly Twitter), NELFUND reassured students that they could now log back into the portal.
They also encouraged students to complete their BVN verification and continue with their loan applications without further hindrance.
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“Dear Students, we understand that many of you experienced difficulties with BVN verification during the weekend and the public holiday.
“We are pleased to announce to you that we have addressed and resolved the issue.
“Please, log back into the portal, finish the BVN verification process, and proceed with your loan application,” the statement read.
NELFUND expressed gratitude to students for their patience during the disruption. Furthermore, it assured them that the application process would now proceed smoothly.
The Nigerian Education Loan Fund, backed by recent increases in funding and the revised Student Loan Act of 2024, aims to eliminate financial barriers to education.
A portion of revenues collected from federal services and duties primarily supports this fund.
In August, President Bola Tinubu announced the transfer of ₦50 billion in recovered funds to NELFUND to enhance the student loan programme.
Since then, NELFUND has distributed ₦4.6 billion to students across 59 institutions and introduced monthly stipends of ₦20,000, benefiting over 20,000 students.
As the application process continues, NELFUND remains committed to providing accessible and vital support to Nigerian students.
