The Nigerian Education Loan Fund (NELFUND) has addressed concerns over alleged delays in student loan disbursements to beneficiaries of Ladoke Akintola University of Technology, stating that claims of widespread non-payment are inaccurate.
In a statement issued on Friday, the Fund clarified that contrary to reports suggesting over 15,000 students were yet to receive approved loans, the institution had only recently submitted a verified batch of 5,237 students for processing. According to NELFUND, this represents the first official batch received from LAUTECH for the current disbursement cycle.
The agency confirmed that the submitted applications have been processed and approved, and are currently undergoing final stages of disbursement, including audit and financial clearance procedures.
NELFUND emphasized that loan approval does not equate to immediate payment, noting that each application must pass through a structured verification and financial workflow to ensure transparency and accountability in the management of public funds.
“The approved batch represents a financial commitment of over ₦1.57 billion, underscoring our ongoing efforts to expand access to tertiary education through sustainable financing,” the statement noted.
The Fund cautioned institutions against issuing premature or misleading public statements, warning that such communications could create unnecessary anxiety among students and erode confidence in the scheme.
NELFUND reaffirmed its commitment to timely disbursement and pledged continued collaboration with participating institutions to ensure a transparent and efficient process for all eligible Nigerian students.
The statement was signed by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND.
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