By Sandra Kenneth
The Federal Government has initiated processes to disburse the remaining N1.7bn balance under the Tertiary Institutions Staff Support Fund (TISSF), following the successful payout of N13.3bn to 7,450 verified beneficiaries in the scheme’s first cycle.
Official updates released on the Federal Ministry of Education’s website reveal that out of an initial N15bn transferred to the Bank of Industry (BOI)—the designated custodian and disbursement agency—N13.3bn has reached beneficiaries, while the balance is moving through institutional onboarding.
The ministry highlighted that the interest-free loan scheme has recorded massive interest nationwide, receiving over 42,000 applications across 153 participating tertiary institutions. To date, 28,987 applications have been approved, with 8,604 formal loan offers already issued.
“With N15bn disbursed to BOI and N13.3bn already in the hands of 7,450 beneficiaries, TISSF has delivered substantial welfare impact in its initial rollout,” the ministry stated, adding that institutional processing continues for remaining applicants.
Key Loan Features & Repayment Terms
Designed to ease financial pressure on academic and non-academic staff, the TISSF offers zero-interest loans of up to N10m for housing, transportation, agriculture, business ventures, and professional development.
Moratorium: Beneficiaries enjoy a one-year grace period before repayments commence.
Repayment Window: Loan recovery is spread over five years via direct payroll deductions.
Salary Cap: Monthly deductions are strictly capped at 33.3% of the beneficiary’s gross pay to safeguard worker welfare.
Operational Framework
Implementation relies on a structured multi-agency model:
Policy & Oversight: Federal Ministry of Education
Fund Custody & Disbursement: Bank of Industry (BOI)
Verification & Payroll Management: Institution Bursaries
Member Mobilisation: Staff unions, including ASUU, NASU, and SSANU
Implementation Challenges
Despite early milestones since its launch on August 14, 2025, the ministry acknowledged operational bottlenecks during year one. Key obstacles included limited awareness among eligible staff, initial workflow confusion among institution bursars, and automated eligibility rejections contested by applicants.
In response, the ministry and BOI deployed dedicated support teams to institution bursaries and collaborated with staff unions to streamline communication and resolve verification disputes.
