ABUJA, Nigeria — The Nigerian Education Loan Fund clarifies concerns over delayed student loans at Ladoke Akintola University, stating that disbursement is already in progress.
The agency on Friday claims that over 15,000 students are awaiting funds that do not align with its records.
According to NELFUND, only 5,237 verified applications have been submitted for the current disbursement phase.
Officials confirm that the approved loans, valued at over ₦1.57bn, are undergoing final payment processing.
“These stages include audit checks and financial clearance to ensure accountability,” the agency says.
NELFUND explains that approval does not translate to immediate payment, as each application must pass strict verification procedures.
The fund warns that misleading information could create unnecessary anxiety among students.
It urges institutions to provide accurate updates on submission status and timelines.
The agency reiterates its commitment to transparency and efficient disbursement processes.
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