More than N18.5 billion has been paid to tertiary institutions as student loans, the Managing Director of the Nigerian Education Loan Fund (NELFUND), Mr. Akintude Sawyerr, has confirmed. Sawyerr, who spoke on a TVC programme monitored yesterday by Leadership News, said additional N5.5 billion has been paid directly to 115,000 students as pocket cash. He said the payments covered the …

The House of Representatives Committee Chairman on Polytechnic and Higher Technical Education, Gboyega Isiaka, says the Nigerian Education Loan Fund (NELFUND) has disbursed N84.2bn to applicants as of September 2024. The disbursements, he said, included N27.5 billion for institutional facilities and N56.7 billion for upkeep of facilities. Isiaka, who represents Yewa North/Imeko-Afon Federal Constituency in Ogun State, said 351,317 students …

The Nigerian Education Loan Fund on Friday said it received a N2 million refund from a Senior Advocate of Nigeria and former beneficiary of the defunct Federal Government Student Loan Scheme in the 1970s, Adegboyega Awomolo. According to a statement released by the Fund which was signed by its Directorate of Corporate Communications, Awomolo, who used the loan to complete …

South-East governors and lawmakers representing the region in the National Assembly have stepped in to help students from the region benefit from the Federal Government’s student loan scheme. The Deputy Speaker of the House of Representatives, Benjamin Kalu, disclosed this in a statement on Monday. Kalu assured students from the region that the issues would be resolved and they would …

The Student Loan Scheme is a conception of the purest, noblest, and loftiest of intentions and design. It is a bond to secure the nation’s future and a promissory note to a prosperous destiny for many young Nigerians. The kernel of the scheme is to remove the impediments of finance and guarantee access to higher education and skill development for …

The Nigerian Education Loan Fund (NELFUND) has clarified that geopolitical zones do not influence the disbursement of its funds. This came after NELFUND shared that it had released the sum of N2.94 billion to 19 universities for 27,667 students. The list revealed that universities in the South-East and South-South regions were not included among the beneficiaries, sparking criticism from some …

The Economic and Financial Crimes Commission (EFCC) has stated that the N50 billion given to the Nigerian Education Loan Fund (NELFUND) was not a donation from the agency but part of the recovered loot given for student loans as directed by the president. Reacting to report that the funds were donations to NELFUND, the EFCC spokesperson, Dele Oyewale said, “The …

The Nigeria Education Loan Fund (NELFUND) on Wednesday, announced what it described as a significant milestone, receiving the highest number of student loan applications within a 24-hour period since the launch of its portal on 25 May 2024. In a statement on Wednesday, NELFUND said it “recorded 9,687 student registrations, with 7,975 completed loan applications”, on 7 August 2024. The …

The Nigerian Education Loan Fund on Monday announced the successful disbursement of N20,000 monthly stipends for July to 20,371 students from six tertiary institutions. A statement released by the Fund in Abuja listed the institutions as follows; Bayero University Kano; Federal University, Dutsin-Ma; University of Ilorin; University of Benin; University of Ibadan and the University of Maiduguri. The statement which …

The Nigerian Education Loan Fund (NELFUND), said yesterday it has disbursed over N1.72 billion as loans to 20,000 students in five tertiary institutions. It added that an additional N850 million would be disbursed before the close of work on Wednesday to another institution, bringing the total disbursed amount to tertiary institutions to N2.5 billion. The Fund also revealed that all …