The Nigerian Education Loan Fund (NELFUND) has clarified the disbursement status of student loans for Ladoke Akintola University of Technology (LAUTECH), Ogbomoso to 5,237 beneficiaries.
The agency’s response follows recent public allegations suggesting that over 15,000 approved student beneficiaries were yet to receive their funds.
In a statement signed by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND, the Agency revealed that its records contradict these claims.
The Agency further clarified that the institution only submitted a verified batch of 5,237 students for processing within the past week, marking the first submission from LAUTECH for the current cycle.
This specific batch, which represents a financial commitment of N1,571,544,300.00, has been processed and approved.
The funds are currently moving through final auditing and accounting stages to ensure transparency and accuracy in the management of public funds, the NELFUND Director stated.
She further emphasized that loan approval is not a guarantee of immediate payment, as every application must undergo a structured verification process to ensure all disbursements are traceable and aligned with institutional records.
The agency also cautioned beneficiary institutions against making premature or misleading public statements that could create unnecessary anxiety among students and undermine public confidence in the national intervention.
Reaffirming its commitment to expanding access to tertiary education, NELFUND called for responsible communication and closer collaboration with participating institutions to maintain a seamless disbursement process for all eligible Nigerian students.