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The University of Ilorin has disbursed ₦372.28 million in loans to 2,973 students through the Nigerian Education Loan Fund (NELFUND).
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The university received two tranches of the loan, with ₦52,879,000 disbursed to 802 students in the first phase and ₦219,407,320 allocated to 2,171 students in the second phase.
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The Vice-Chancellor, Prof. Wahab Egbewole, called on NELFUND to streamline the loan disbursement process.
The University of Ilorin has taken a significant step in supporting its students’ education. Through the Nigerian Education Loan Fund (NELFUND), the university has disbursed ₦372.28 million in loans to 2,973 students.
Two Phases of Loan Disbursement
According to the university’s bulletin, the loan disbursement occurred in two phases.
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In the first phase, ₦52,879,000 was disbursed to 802 students, while in the second phase, ₦219,407,320 was allocated to 2,171 students.
This initiative has helped many students who might have dropped out of school due to financial difficulties.
Streamlining the Loan Process
The Vice-Chancellor, Prof. Wahab Egbewole, praised the federal government for establishing NELFUND.
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However, he also called on the management of NELFUND to streamline the loan disbursement process.
Egbewole cited challenges with the Remita payment system, which has caused difficulties for students.
He noted, “One key issue that students have raised is the difficulty with Remita. There has been some back and forth regarding this, and I believe that NELFUND can sit down to address it.”
NELFUND Disburses N20bn to 192,906 Students, Clarifies Disbursement Reports
The Nigerian Education Loan Fund (NELFUND) has announced the disbursement of over N20 billion in institutional fees to tertiary institutions nationwide, benefiting 192,906 students.
In a statement released by its management in Abuja, NELFUND addressed widespread misconceptions about the total amount disbursed.
