UI Secures N201m NELFUND Loan For 1,370 Students

The University of Ibadan (UI) has successfully secured N201,114,650.00 from the Nigerian Education Loan Fund (NELFUND) to support the education of 1,370 students for the 2023/2024 academic session.

The development was confirmed by the University’s Director of Public Relations, Mrs. Joke Akinpelu, in a statement sent to the News Agency of Nigeria (NAN) on Tuesday in Ibadan, Oyo State capital.

An internal memo, dated August 9 and obtained by NAN, disclosed that the funds had been deposited into the institution’s account. The memo, signed by the institution’s Registrar, Mr. Ganiyu Saliu, and addressed to the Dean of Student Affairs, indicated that the bursary department is currently processing the funds to issue ‘smart receipts’ to the beneficiaries.

“Any student who is a beneficiary of the NELFUND loan and has already paid levies for the session fee is entitled to a refund,” the memo stated. It further instructed that students seeking a refund must apply through the Dean of Students to the Deputy Vice-Chancellor Academics, providing their account details along with a photocopy of the original payment receipt.

The Registrar emphasised that this information applies exclusively to students whose applications for the NELFUND loan were approved.

LEADERSHIP recalls that NELFUND had on August 2 said it has approved and disbursed over N2,530,235,750 in student loans, benefiting 22,120 students across various institutions nationwide.