NELFUND DENIES DELAY IN LAUTECH STUDENT LOAN DISBURSEMENT CLAIMS
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By: Balogun Ibrahim
The Nigerian Education Loan Fund (NELFUND) has dismissed reports alleging widespread delays in student loan disbursement for beneficiaries of Ladoke Akintola University of Technology (LAUTECH), describing the claims as misleading.
In a statement issued in Abuja on Friday by the Director of Strategic Communications, Oseyemi Oluwatuyi, the agency said contrary to reports that over 15,000 approved students had not received payments, LAUTECH had only recently submitted 5,237 students for processing under the current disbursement cycle.
NELFUND explained that the figure represents the first verified batch received from the institution and confirmed that processing is already at an advanced stage.
It stated that the submitted applications have been processed and approved and are now undergoing final administrative procedures before payment is completed.
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According to the agency, the final stages include audit and finance checks, which are part of standard procedures designed to ensure transparency, accuracy, and accountability in the management of public funds.
The Fund further clarified that approval does not automatically result in immediate payment, noting that each application must pass through verification and financial screening before disbursement.
It added that the approved batch amounts to a total of ₦1.57 billion, which forms part of its broader effort to expand access to tertiary education through student financing.
NELFUND also urged institutions to ensure accurate communication regarding loan processes, warning that incorrect information could cause unnecessary concern among students.
It stressed that misleading reports could undermine public confidence in the scheme, which it said is already delivering measurable results.
Reaffirming its commitment, the agency said it remains focused on ensuring timely and transparent disbursement of verified student loans while continuing to work closely with tertiary institutions nationwide.
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