NELFund Disbursed Tinubu Student Loans to Twenty Thousand Students – Over N1.1 Billion in Student Loans to 20,000 Beneficiaries.
The Nigerian Education Loan Fund (NELFund) has disbursed over N1.1 billion in student loans to 20,000 beneficiaries.
This was disclosed by the Managing Director of NELFund, Mr. Akintunde Sawyerr, during a briefing in Abuja on Wednesday.
According to Sawyerr, an additional N850 million will be disbursed before the end of the day, with daily disbursements to follow.
The Fund will also provide upkeep loans to 260 students, each entitled to N250,000 yearly.
Upkeep stipends are expected to be paid in the coming week, focusing on transparency and security.
Sawyerr revealed that five institutions have been selected to benefit from the disbursement, with an additional institution to receive funds on Wednesday.
He emphasized that the institutions were chosen based on their academic calendar, ensuring a transparent and equitable distribution of resources.
The Managing Director also addressed reports of deductions from the disbursement to students, clarifying that beneficiaries received the exact amount they applied for.
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