NELFUND Disburses Over ₦322 Billion in Student Loans

The Nigerian Education Loan Fund (NELFUND) has reported that it has received more than 1.6 million student loan applications and has disbursed over ₦322 billion as of August 2026. NELFUND expressed gratitude to President Bola Ahmed Tinubu for his directive to channel eligible liquid funds recovered by the Economic and Financial Crimes Commission (EFCC) to support the Fund's obligations.

Additionally, the Federal Executive Council approved the allocation of unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund to NELFUND. Jim Ovia, Chairman of the NELFUND Board, acknowledged President Tinubu's support, emphasizing the administration's commitment to making higher education more accessible.

NELFUND's Managing Director/Chief Executive, Akintunde Sawyerr, thanked the President for his commitment to removing financial barriers to education, stating that this intervention reflects a belief in the transformative power of education and will help build a sustainable student financing system for Nigerian students.