The Nigerian Education Loan Fund (NELFUND) has clarified recent public statements regarding the alleged non-disbursement of approved student loans to beneficiaries of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso.
The Director of Strategic Communications, Oseyemi Oluwatuyi, in a statement, said contrary to claims suggesting that over 15,000 approved student beneficiaries are yet to receive disbursements, NELFUND’s records indicate that the institution only submitted a batch of 5,237 students for processing within the past week.
“This submission represents the first verified batch received from the institution for the current disbursement cycle.
We confirm that this batch has already been duly processed and approved and is currently progressing through the final stages of the disbursement workflow, including Audit and Finance & Accounts, in line with established procedures designed to ensure transparency, accuracy and accountability in public fund management,” she said.
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She emphasised that loan approval does not automatically translate to immediate disbursement, as each application must pass through a structured verification and financial processing system.
“This is a critical safeguard to ensure that all payments made under the scheme are accurate, traceable and aligned with institutional records.
“The approved batch alone represents a significant financial commitment of ₦1,571,544,300.00, clearly demonstrating NELFUND’s active and ongoing fulfilment of its mandate to expand access to tertiary education through sustainable student financing,” she said.
She added that NELFUND remains fully committed to the timely disbursement of all duly processed and verified student loans.
“However, we strongly advise beneficiary institutions to ensure that public statements regarding the scheme accurately reflect the status of submissions and processing timelines.
“Premature or misleading representations risk creating unnecessary anxiety among students and the public, and may undermine confidence in a national intervention that is already delivering measurable impact.”
Oseyemi reaffirmed the agency’s commitment to working collaboratively with all participating institutions to ensure a seamless, transparent and efficient disbursement process for all eligible Nigerian students.