NELFUND Clarifies Student Loan Disbursement Status

The Nigerian Education Loan Fund (NELFUND) issued a statement regarding the disbursement status of student loans for beneficiaries from the Ladoke Akintola University of Technology (LAUTECH) in Ogbomoso. Mr.

Oseyemi Oluwatuyi, the Director of Strategic Communications, clarified that although claims suggested that 15,000 approved student beneficiaries had not received disbursements, NELFUND's records show that 5,237 student applications were processed within the past week. This batch represents the first verified group to receive disbursement in the current cycle.

The disbursement process is currently in its final stages, which includes financial auditing and adherence to established procedures to ensure transparency and accuracy in managing public funds. NELFUND emphasized that loan approval does not equate to immediate disbursement, as applications must pass through a structured verification process.

The organization remains committed to timely disbursement while advising institutions to ensure public statements accurately reflect the status of submissions to prevent unnecessary anxiety among students.