The Nigerian Education Loan Fund (NELFUND) has dismissed claims that over 15,000 approved student loan beneficiaries at Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, are yet to receive disbursements.
In a statement by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications, the Fund clarified that the institution only recently submitted a batch of 5,237 students for processing, marking the first verified submission received from LAUTECH for the current disbursement cycle.
NELFUND confirmed that the batch has been processed and approved and is currently undergoing the final stages of disbursement, including audit and financial clearance procedures designed to ensure transparency and accountability.
The agency stressed that loan approval does not equate to immediate payment, noting that all applications must pass through structured verification and financial processing systems before funds are released.
According to the Fund, the approved batch represents a financial commitment of ₦1,571,544,300, underscoring its ongoing efforts to expand access to tertiary education through student financing.
NELFUND also cautioned institutions against issuing premature or inaccurate public statements about the loan scheme, warning that such claims could create unnecessary anxiety among students and undermine confidence in the programme.
The Fund reaffirmed its commitment to the timely and transparent disbursement of verified student loans and pledged continued collaboration with participating institutions to ensure an efficient process.
