NELFUND Clarifies Delay in Student Loan Disbursement to South-East Institutions

The Nigerian Education Loan Fund (NELFUND) has addressed the concerns surrounding the apparent exclusion of South-East institutions from the recent student loan disbursements.

NELFUND clarified that the delay is due to these institutions’ failure to complete the necessary verification process required for funds to be released.

In a statement issued via their official X (formerly Twitter) account, NELFUND emphasized that geopolitical considerations do not influence the disbursement process.

“Geopolitical zones are not a factor in the disbursement process. NELFUND sent a verification list to every institution eligible for disbursement,” it noted.

NELFUND further explained that payments are being made to institutions that have responded to this verification.

However, “we have not yet received any response from the institutions in the South-East. We urge these institutions to complete the verification process so that their students can benefit from the scheme,” the statement added.

This clarification comes in response to a social media user’s frustration over the perceived neglect of South-East universities, such as UNIZIK, FUTO, MOUAU, and the University of Nigeria (UNN), in the loan allocation.

The user, identified as Santiago Leo, stated, “No funds were allocated to students in UNIZIK, FUTO, MOUAU, and even the University of Nigeria (UNN). I’m pretty sure a lot of students in those schools applied for the loan just like every other Nigerian student.”

As of now, NELFUND has disbursed approximately N2.9 billion to 27,667 students across 19 institutions that completed the verification process.