The Nigerian Education Loan Fund, NELFUND, has clarified that loan disbursements to Ladoke Akintola University of Technology, LAUTECH, are yet to be concluded due to outstanding institutional processes required under the education loan scheme.
The Fund issued the clarification in a statement by its Director of Strategic Communications at NELFUND, Mrs. Oseyemi Oluwatuyi, on Monday in Abuja.
Oluwatuyi said engagements are ongoing with the LAUTECH management, led by the Vice-Chancellor, Prof. Rasak Olatunde Rom Kalilu, to resolve the pending issues and complete the disbursement process as soon as practicable.
The Fund explained that disbursements are only effected after the completion of institution-specific validation and reconciliation requirements.
Oluwatuyi noted that in LAUTECH’s case, these processes were not finalized at the time of the last disbursement cycle.
She added that discussions with the university are progressing, with the aim of resolving all outstanding issues and ensuring prompt payment once the required steps are completed.
NELFUND urged LAUTECH authorities to allow the 12,733 verified students captured under the scheme to sit for their examinations, assuring that the Fund remains fully committed to settling its obligations to the institution.
Students and parents were advised to remain calm, with assurances that no eligible beneficiary would be disadvantaged.
Meanwhile, NELFUND has confirmed the successful disbursement of funds to the University of Benin, UNIBEN, for eligible student beneficiaries under the Education Loan Scheme.
The confirmation followed an official acknowledgement letter from UNIBEN, signed by the Vice-Chancellor, Professor Edoba Bright Omoregie, SAN, confirming the receipt of two additional tranches of NELFUND disbursements.
The tranches, covering 2,673 students and amounting to N230,599,250, were received in January 2026 and duly acknowledged by the university.
NELFUND noted that the clarification became necessary following the circulation of a purported repayment circular, which UNIBEN has formally disowned.
The university confirmed that the circular did not originate from it and that no repayment guideline has been issued.
The Fund reiterated that payments have already been made directly to UNIBEN and that no student is required to make any payment in connection with the loan scheme at this time.
It stressed that neither NELFUND nor the Federal Government has authorized any individual, group, or institution to demand payments from students or beneficiaries.
NELFUND reaffirmed its commitment to transparency, accountability, and sustained collaboration with tertiary institutions to ensure that eligible Nigerian students fully benefit from the Education Loan Scheme.
