The Nigerian Education Loan Fund (NELFUND) has refuted claims of widespread delays in the disbursement of student loans to beneficiaries of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, clarifying that payments are currently in the final stages of processing.
This was contained in a statement on Friday by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications, NELFUND.
The Agency said reports alleging that over 15,000 approved students were yet to receive funds were inaccurate.
According to the agency, the university only recently submitted a verified batch of 5,237 students for the current disbursement cycle—the first such submission received within the past week.
The Fund disclosed that the batch has already been processed and approved, and is now undergoing final procedures, including audit and financial clearance, in line with established accountability standards.
NELFUND emphasized that loan approval does not equate to immediate disbursement, noting that each application must pass through a structured verification and financial workflow to ensure transparency, accuracy, and proper documentation.
The agency further revealed that the approved batch represents a financial commitment of over ₦1.57 billion, underscoring its ongoing efforts to expand access to tertiary education through sustainable student financing.
While reaffirming its commitment to timely disbursement, NELFUND urged institutions to exercise caution in public communications, warning that premature or misleading claims could create unnecessary anxiety among students and erode confidence in the scheme.
The Fund reiterated its readiness to collaborate with participating institutions to ensure a seamless, transparent, and efficient loan disbursement process for eligible Nigerian students.