The Federal Government has announced the creation of a high-level committee to streamline and standardise fee payment processes across the country’s tertiary institutions.

This is a bid to improve the financial operations between Nigerian universities and the Nigerian Education Loan Fund.

The Minister of Education, Dr Tunji Alausa, made the announcement in Abuja on Wednesday after a closed-door meeting with Vice-Chancellors of universities and NELFUND management said the measure was a step to improve the financial operations between Nigerian universities and the Nigerian Education Loan Fund. right direction

GALAXY TV reports that the Minister who addressed the media after the meeting, emphasised that while universities have been receiving funds on time, there is a critical need to improve the timelines and processes involved in the disbursement and notification systems.

He explained that there was no fraud in NELFUND as speculated by the Independent Corrupt Practices and Other Related Offences Commission adding that the current processes are working, but we are working to better the world we have now.

Dr. Alausa stated that the major decision made during the meeting was the formation of a committee with representatives from NELFUND, the Ministry of Education, the National Universities Commission, and key university officials saying the committee would be tasked with standardisation of fee nomenclature.

According to him, to ensure transparency, all universities will adopt uniform terminology for student fees and charges, though the amounts may vary by institution.

Speaking in the same vein, the Minister of State for Education Prof. Suwaiba Ahmad, said the meeting was called to douse the public tension and to ensure transparency and accountability in the process.

The ministers pledged the commitment of the federal government to a holistic and student-centred approach in managing educational funding.