NELFUND DEBUNKS N104 BILLION STUDENT LOAN DISBURSEMENT CLAIM 

The Nigerian Education Loan Fund (NELFUND) has dismissed reports suggesting that over N104 billion has been disbursed to 600 beneficiaries under the Student Loan Scheme.

In a statement released on its official platform, NELFUND clarified that as of February 3, 2025, NELFUND had received 364,042 student loan applications. It confirmed that N20,074,050,000 had been disbursed for institutional fees, benefiting 192,906 students across various tertiary institutions. Also, N12,818,960,000 has been allocated for upkeep, covering 169,114 students, each receiving a N20,000 monthly stipend.

Team plato gathered that the management, led by Akintunde Sawyerr, reaffirmed its commitment to transparency and efficiency in the administration of the student loan scheme. It also appreciated the support of President Bola Ahmed Tinubu (GCFR) in expanding access to higher education, assuring that accurate updates would be provided as disbursements continue.