The Federal Government has announced it’s preparedness to standardize fee payments processes across tertiary institutions in the country.
This was disclosed by the Minister of Education Dr. Tunji Alausa in Abuja on Wednesday.
Alausa stated that the creation of a high-level Committee is to streamline and standardize fee payment processes across tertiary institutions in the country.
According to the Minister, this move aims to enhance financial operations between Nigerian universities and the Nigerian Education Loan Fund (NELFUND).
Alausa made the disclosure after a closed-door meeting with Vice-Chancellors of Nigerian universities and NELFUND management in Abuja.
The Minister stated that while universities had been receiving funds promptly, there was a pressing need to improve the timelines and efficiency of disbursement and notification processes.
This was as he clarified that there was no fraud in NELFUND. This is coming against earlier speculations by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
Alausa said, “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 to align with the broader agenda of the current administration.”
The Minister also revealed that one of the major decisions reached during the meeting was the formation of a committee. He stated that the Committee comprised of representatives from NELFUND, the Ministry of Education, the National Universities Commission (NUC), and key university officials.
The Minister pointed out that the Committee’s primary task will be to standardize 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,” the Minister added.
Fielding questions from journalists on discrepancies between student fees and what NELFUND pays, the Minister attributed the differences to varying service charges by institutions.
He pointed out that the Committee would create a clear framework for fee components to eliminate confusion and ensure accurate disbursements.
According to him, universities will disclose service charges upfront to avoid misunderstandings in refunded amounts.
The Minister reaffirmed the Federal Government’s commitment to a holistic and student-focused approach to managing educational funding.
He stated that the Committee has been given three weeks to submit its report.
“After the submission, the finalized guidelines for standardizing fee payments across tertiary institutions will be made public,” he said.