The new system is designed to stop cases of double payment and improve transparency in the student loan scheme as the number of beneficiaries increases.

Akintunde Sawyerr, NELFUND managing director, revealed the plan during an interview on ARISE News, saying the upgrade followed lessons learnt during the first year of the scheme.

He said many students had already paid their tuition to meet registration and examination deadlines before NELFUND processed and released payments to their institutions, leading to duplicate payments in several cases.

To address the problem, NELFUND wants students to receive digital tuition tokens on their mobile phones, which they will use to make payments directly at their schools’ bursaries.

“We’re looking at a tokenised system where the student has the funds effectively as a token on their telephone, and when they go to the bursary, they can effectively push a button that makes the payment, and then they’re allowed to carry on with classes,” Sawyerr said.

He added that once the system becomes operational, the agency will no longer transfer tuition fees directly to tertiary institutions.

“Once we are able to successfully achieve that upgrade in the system, it will mean that we no longer pay the schools; the student pays the schools but through a token,” he added.

Sawyerr explained that NELFUND deliberately decided against paying tuition loans into students’ personal bank accounts because doing so could lead to funds being used for purposes other than education.

“We chose not to pay students directly for the loans because that would take us into an entirely new area where students get paid for the fees, and they can then make the decision as to whether they want to go to school or not,” he said.

He said the student loan scheme was created by the administration of President Bola Tinubu to ensure that qualified Nigerians are not denied tertiary education because they cannot afford tuition.

“The objective is to ensure that those who have the capacity to go to a tertiary institution are not hindered because they don’t have money,” he said.

While tuition payments remain tightly controlled, Sawyerr noted that students will continue to receive their upkeep allowances directly.

The planned reform comes as NELFUND investigates 34 tertiary institutions accused of failing to refund students whose tuition had already been paid before the agency also sent payments to the schools. The investigation involves anti-graft agencies, including the EFCC and ICPC.

According to Sawyerr, many affected students borrowed money from relatives and friends to meet school deadlines before their loan applications were approved, making refunds necessary.

He also said synchronising loan applications and disbursements with academic calendars should help reduce such cases.

“The fact that we’re now aligning our payment and application cycles to the academic cycle will ease these problems. I don’t think problems ever go away, there’ll be new ones, but we’ll deal with them as they come along,” he said.

NELFUND said the token-based tuition fee payment model is part of its plan to strengthen accountability and improve the efficiency of the student loan programme.

As of July 3, 2026, the agency had disbursed more than N303.91 billion to about 1.64 million beneficiaries across public universities, polytechnics, colleges of education and vocational institutions.

Between May and July 2026, NELFUND released an additional N21.7 billion, with upkeep allowances accounting for the larger share of the increase.

Under the scheme, beneficiaries are expected to begin repaying their loans two years after completing the National Youth Service Corps (NYSC).

The post NELFUND to Launch Token-Based Tuition Payments to Curb Overpayments, Boost Transparency appeared first on Tech | Business | Economy.

Launched through NovaGrad, its education access platform, the scholarship is part of what the company calls its Next Chapter initiative, combining direct financial support with application guidance for students seeking postgraduate study abroad.

Prodigy Finance has funded postgraduate students at leading universities for years with its scholarship focus changing from one region to another.

In previous cycles, it targeted India and Latin America, alongside more established markets. This time, the attention is on Africa.

The company says it has learned from years of working with students. Funding is essential, but guidance also impacts outcomes. Many applicants find it difficult to organise their choices, meet deadlines and manage visa and funding requirements at the same time.

NovaGrad was set up to bring those steps into one place, from shortlist to enrolment.

Demand for international degrees is growing. At the same time, costs are increasing and timelines are tight. Students constantly need to secure funding quickly after receiving an offer. This scholarship is designed to support them at that stage.

There are two parts to the support package.

First, 10 students will receive up to $2,500 each to cover tuition and living costs. Priority will go to candidates who show strong academic merit, proof of financial need and a realistic shortlist of universities.

Applicants must complete their submissions through NovaGrad before the stated deadline. Shortlisted candidates may need to provide extra documents to confirm eligibility before funds are released.

Second, 100 students will qualify for application fee reimbursement of up to $200 each. This applies only to university applications submitted through NovaGrad. Once the platform verifies and accepts the submission, the reimbursement will be processed. Applications made outside NovaGrad will not qualify.

Students are required to register or log in on the platform, enter a valid waiver code where applicable, and submit their university applications through it.

Sonal Kapoor, global chief business officer at Prodigy Finance, said, “African students have consistently demonstrated exceptional ambition and academic strength. Over the years, we have seen students from across the continent succeed at some of the world’s top institutions. This scholarship gives them a focused opportunity, and NovaGrad helps bring clarity to every step around it.”

Mariana Alcocer, spokesperson for NovaGrad, added, “African students are among the most talented we see, yet many still lack the exposure or networks that help others access global education. This programme is about recognising that talent and creating a pathway forward.”

Applicants may also upload a short video on social media explaining why they deserve the scholarship and tag NovaGrad. Thoughtful submissions will earn additional points and families, friends and professional networks are encouraged to share the videos to broaden visibility.

Applications are now open through NovaGrad. Prodigy Finance says the goal is to ensure access to global education depends on merit and ambition, not geography.

The post NovaGrad, Prodigy Finance Launch Africa Scholarship for Postgraduate Study Abroad, $2,500 Per Student appeared first on Tech | Business | Economy.

The management of these institutions have successfully submitted their student data to the NELFUND Student Verification System (SVS).

“We urge all other state-owned tertiary institutions to submit their complete student data to the NELFUND Student Verification System timely to enable their students benefit from the scheme”, the Fund said.

Students from the following institutions can now apply:

1. Adamawa State University, Mubi
2. Ramat Polytechnic, Maiduguri
3. Borno State University
4. Mohammet Lawan college of Agriculture, Borno State
5. Edo State University, Uzairue
6. Ekiti State University, Ado-Ekiti
7. Gombe State University
8. Kingsley Ozumba Mbadiwe University, Imo State
9. Imo State University of Agriculture and Environmental Sciences Umuagwo
10. Nuhu Bamalli Polytechnic, Zaria
11. Yusuf Maitama Sule University, Kano
12. Umaru Musa Yar’adua University, Katsina
13. Katsina State Institute of Technology and Management
14. Kebbi State University of Science and Technology, Aliero
15. Confluence University of Science and Technology, Kogi state
16. Lagos state university of education
17. Lagos State University
18. Nasarawa State University, Keffi
19. Tai Solarin University of Education, Ogun state
20. University of Medical Sciences, Ondo
21. Osun State University
22. University of Ilesa, Osun State
23. GTC, ARA Osun State
24. GTC, GBONGAN Osun State
25. GTC, IJEBU-JESA Osun State
26. GTC, ILE-IFE Osun State
27. GTC, INISA Osun State
28. GTC, IWO Osun State
29. GTC,OSU Osun State
30. GTC, OTAN AYEGBAJU Osun State
31. Osun State College of Education, Ila-Orangun
32. Government Technical College, Ile-Ife
33. Osun State College of Technology
34. Taraba State University, Jalingo
35. Umar Suleiman College of Education, Gashua, Yobe State
36. Zamfara State University, Talata Mafara

The post 36 State Tertiary Institutions Already Onboarded by NELFUND (FULL LIST) appeared first on Tech | Business | Economy.