ABUJA — The Nigerian Education Loan Fund (NELFUND) has deployed a unique token generation system to eliminate double payment of tuition fees and streamline disbursement tracking across tertiary institutions nationwide.
The management of the loan agency announced the technological framework on Wednesday, October 28, 2026, as part of measures to strengthen accountability and plug administrative leakages within the student loan portal.
Under the new operational guidelines, applicants who have successfully passed initial eligibility checks will receive a confidential, system-generated verification token directly to their registered portal accounts and contact numbers.
Students are required to present this unique token to the bursary departments of their respective universities, polytechnics, or colleges of education for final physical or digital validation before tuition funds are released.
Speaking on the development in Abuja, NELFUND officials explained that the token protocol acts as a dual-key confirmation mechanism, ensuring that funds are credited exclusively to institutions where beneficiaries are actively enrolled and preventing duplicate fee processing for the same academic session.
“This token deployment resolves instances where students might accidentally submit multiple loan requests or where institutional records lag during processing,” the agency stated. “The token guarantees that tuition fees are disbursed once per student per academic session directly to the verified account of the target institution.”
The agency advised all prospective and returning beneficiaries currently accessing the loan portal to safeguard their verification tokens, warning that tokens should only be presented during official clearance procedures at institutional bursaries.
