The Nigerian Education Loan Fund (NELFUND) has cited “payment processing” as the reason for the delay in disbursing students’ August stipends. Mrs. Oseyemi Oluwatuyi, Director of Corporate Communications, clarified that the delay is due to ongoing security checks designed to protect public funds and ensure accurate allocation to the right beneficiaries.
NELFUND appealed to students for patience while it completes the disbursement process with the same level of diligence that has characterized its operations. The statement read:
“The Nigerian Education Loan Fund (NELFUND) wishes to inform students that the delay in the August stipend is due to ongoing payment processing. The Fund is conducting necessary security checks to protect public funds and ensure that they are properly allocated to the right beneficiaries.
“While we acknowledge that this process may cause some inconvenience, it is an essential part of our commitment to maintaining transparency, accountability, and upholding the integrity of the student loan program.
“We therefore ask for your patience and understanding during this period, as we strive to finalize the disbursement with the same level of diligence that has defined our operations thus far. We remain steadfast in our mission to empower students and enhance access to higher education across Nigeria.
“The fund is working diligently to complete the disbursements as soon as possible. We appreciate the feedback from students and are pleased to see the level of engagement and attentiveness in monitoring the progress of the upkeep disbursements.
“This level of involvement reinforces the significance of the student loan program, and we remain dedicated to supporting your educational pursuits, just as we have with previous disbursements.”