Chidimma Uchegbu -Abuja
The Nigerian Education Loan Fund (NELFUND) has provided an update on the status of disbursements to Ladoke Akintola University of Technology (LAUTECH), noting that payment to the institution was yet to be concluded.
In s statement signed by the Director, Strategic Communications of NELFUND, Mrs. Oseyemi Oluwatuyi explained that the delay was due to pending institutional processes required to finalize disbursement under the Education Loan Scheme.
NELFUND confirmed that engagements were ongoing with the University’s management, led by the Vice-Chancellor, Professor Rasak Kalilu, to resolve the outstanding issues and ensure that the disbursement process is completed as soon as practicable.
“NELFUND explains that disbursements are executed only after the completion of all institution-specific validation and reconciliation requirements. In the case of LAUTECH, these processes were not concluded at the time of the last disbursement cycle. However, the Fund confirms that engagements with the University are ongoing, with a view to resolving the outstanding issues and effecting payment as soon as the required steps are completed.
“In the interim, NELFUND emphasizes that 12,733 verified LAUTECH students under the scheme should be allowed to sit for their examinations, as the Fund remains fully committed to settling its obligations to the institution once the process is concluded. Students and parents are advised to remain calm, as no beneficiary will be disadvantaged”, the statement said.
In a related development, NELFUND confirmed the successful disbursement of funds to the University of Benin (UNIBEN) for eligible student beneficiaries under the Education Loan Scheme.
This confirmation follows an official acknowledgement letter issued by the University, signed by the Vice-Chancellor, Professor Edoba Omoregie (SAN), confirming receipt of two additional tranches of NELFUND disbursements covering 2,673 students, amounting to a total sum of ₦230,599,250.
The funds were received in January 2026 and were duly acknowledged by the University. The clarification became necessary following the circulation of a purported repayment circular, which the University had formally disowned, confirming that it did not originate from UNIBEN and that no repayment guideline had been issued.
“NELFUND reiterates that funds have already been paid directly to UNIBEN, and as such, no student is required to make any payment in connection with the loan scheme at this time. Neither NELFUND nor the Federal Government has authorized any individual, group, or institution to request payments from students or beneficiaries.
“NELFUND remains committed to transparency, accountability, and collaboration with institutions to ensure that eligible Nigerian students fully benefit from the Education Loan Scheme”, the statement said.
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