The Nigerian Education Loan Fund (NELFUND) has set the record straight on its loan disbursement figures.
In a statement released on Monday, NELFUND revealed that it has actually disbursed a total of N32 billion in loans to students across various tertiary institutions in the country.
This follows claims that it has disbursed over N104 billion to 600 beneficiaries
The statement read: “The management of the Nigerian Education Loan Fund (NELFUND), under the leadership of Akintunde Sawyerr, wishes to correct inaccurate reports regarding the total amount disbursed under the Student Loan Scheme.”
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According to NELFUND, the actual figures are as follows: N20,074,050,000 has been disbursed for institutional fees, benefiting 192,906 students, while N12,818,960,000 has been disbursed to 169,114 students for upkeep, with each recipient receiving a monthly stipend of N20,000.
The statement concluded: “We appreciate the unwavering support of President Bola Ahmed Tinubu (GCFR) in making higher education accessible to all deserving Nigerian students. NELFUND remains committed to transparency and efficiency in managing the student loan scheme and will continue to provide accurate updates as disbursements progress.”
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