Nigeria's student loan fund NELFUND pilots tokenised tuition payments

NELFUND chief executive Akintunde Sawyerr announced a pilot of a tokenised payment system tying approved tuition funds to the designated institution, to stop duplicate fee payments. A parents' portal is also planned. Cumulative disbursements stood at N372.62 billion as of 29 September 2026, including N192.89 billion for institutional fees across 319 institutions.

Why it matters

The scheme is a sizeable flow of public money into tertiary education, and tighter payment controls affect institutions and the service providers around them.

Source: Within Nigeria · 28 October 2026

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