NELFUND disburses monthly upkeep to 20,371 students

The Nigerian Education Loan Fund (NELFUND) has announced the successful disbursement of N20,000.00 monthly stipends to 20,371 students.

Particularly, the agency said the disbursement is for the month of July and would cover applicants in six tertiary institutions.

A statement on Monday by NELFUND Director of Finance and Accounts, Ibom Uche, said the 20,371 beneficiaries cut across the following six institutions: Bayero University Kano, Federal University, Dutsin-Ma, Katsina State, University of Ilorin, University of Benin, University of Ibadan, and University of Maiduguri.

The agency had last week disbursed over N2 billion in institutional fees to the six higher institutions.

According to Uche, NELFUND is diligently working to commence the payment process for students from approximately 55 additional tertiary institutions.

“It is anticipated that this will be concluded within the next two weeks as the fund is committed to ensuring that all eligible students receive their stipends promptly.

“NELFUND remains steadfast in its mission to support the educational aspirations of Nigerian students by providing financial assistance for studies at qualifying institutions and ensuring the timely disbursement of stipends for day-to-day expenses,” he said.

President Bola Tinubu had on Sunday in his national broadcast committed a further N50 billion from recovered proceeds of crime to the agency.