The Nigerian Education Loan Fund (NELFUND) has announced a delay in the disbursement of August stipends to students.
NELFUND, through its spokesperson, Oseyemi Oluwatuyi, said in a statement that the delay is due to ongoing payment processing and security checks.
It also noted that the delay is necessary to protect public funds and ensure they are allocated to the right beneficiaries.
“NELFUND wishes to inform students that the delay in the August stipend is due to ongoing payment processing. The Fund is conducting necessary security checks to protect public funds and ensure that they are properly allocated to the right beneficiaries,” the statement read in part.
“While we acknowledge that this process may cause some inconvenience, it is an essential part of our commitment to maintaining transparency, accountability, and to continue to uphold the integrity of the student loan program.”
The fund, however, assured students that the disbursement process is being conducted with the same level of diligence as previous disbursements and that they are working to complete the process as soon as possible.
It also urged students to be patient and understanding during this period, as the delay may cause some inconvenience.
NELFUND stated, “We therefore ask for your patience and understanding during this period, as we strive to finalise the disbursement with the same level of diligence that has defined our operations thus far. We remain steadfast in our mission to empower students and enhance access to higher education across Nigeria.
“The fund is working diligently to complete the disbursements as soon as possible. We appreciate the feedback from students and are pleased to see the level of engagement and attentiveness in monitoring the progress of the upkeep disbursements.
“This level of involvement reinforces the significance of the student loan program, and we remain dedicated to supporting your educational pursuits, just as we have with previous disbursements.”
