The Nigerian Education Loan Fund (NELFUND) has issued an update regarding the disbursement of August stipends, informing students of an unexpected delay.
NELFUND Student Loan Delay
According to a statement by the NELFUND’s spokesperson, Oseyemi Oluwatuyi, this hold-up is attributed to the current payment processing and necessary security checks.
Oluwatuyi emphasized that this delay is crucial to safeguarding public funds and ensuring that financial aid reaches the correct recipients.
The statement from NELFUND highlighted the importance of these checks in upholding the integrity and transparency of the loan distribution process.
“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,” the statement explained.
“While we acknowledge that this process may cause some inconvenience, it is an essential part of our commitment to maintaining transparency, accountability, and to continue to uphold the integrity of the student loan programme.”
NELFUND acknowledged that such delays might cause some inconvenience but assured students that the rigorous checks are a necessary step to maintain the program’s credibility.
The organization reassured students that despite the current delay, the process is being handled with the utmost care, consistent with previous disbursements, noting that they are committed to resolving the issue and finalizing the disbursements as quickly as possible.
It also appreciated the active engagement and feedback from students, acknowledging the critical role of their involvement in the success of the loan program.
“We therefore ask for your patience and understanding during this period, as we strive to finalise 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,” NELFUND added.
For further information on how to apply, read our previous report on NELFUND Student Loan and remain patient as the organization finalizes the processing of August stipends.