NELFUND disburses N201 million education loan to 1,370 UI students

The University of Ibadan in Oyo State announced that it received N201,114,650 from the Nigerian Education Loan Fund for 1,370 students for the 2023/2024 academic session.

Joke Akinpelu, the university’s Director of Public Relations, made the statement on Tuesday in Ibadan.

An internal memo dated August 9 said that the funds were deposited into the institution’s account to cover the costs of the 1,370 students who asked for the loan.

The memo, signed by the institution’s Registrar, Ganiyu Saliu, and addressed to the Dean of Students, stated that the bursary department was currently processing the funds so that the concerned students may acquire ‘smart receipt.’

Mr Saliu stated, “Any student who is a beneficiary of the NELFUND loan and has already paid levies for the session fee is entitled to a refund. To apply for a refund, the student must write through the Dean of Students to the Deputy Vice-Chancellor Academics, providing their account details for the refund. A photocopy of the original payment receipt must be attached to each application,” the memo, entitled: ‘Re: Nigerian Education Loan Fund (NELFUND).’

According to the registrar, the information only applies to those who applied for the NELFUND loan and had their applications approved.