The Management of the Nigerian Education Loan Fund (NELFUND) under the leadership of Akintunde Sawyer, has refuted the claim that it has disbursed over N104 billion to 600 beneficiaries.
The Management of the Fund in a statement issued in Abuja on Monday claimed that as of February 3, 2025, NELFUND has received a total of 364,042 student loan applications. It added that the Fund has so far disbursed a total of N20, 074,050,000 for institutional fees, benefiting 192,906 students across various tertiary institutions.
Additionally, for upkeep, NELFUND has disbursed N12, 818,960,000 to 169,114 students, each receiving a monthly stipend of N20, 000. The Management appreciated the unwavering support of President Bola Ahmed Tinubu (GCFR) in making higher education accessible to all deserving Nigerian students.
NELFUND however, restated it’s committed to transparency and efficiency in managing the student loan scheme and will continue to provide accurate updates as disbursements progress.
