NELFUND confirms N1.33bn disbursement to UNILAG for 6,308 students

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By Chika Nwachukwu, Abuja

The Nigerian Education Loan Fund (NELFUND) announced that it has successfully transferred N1,326,550,000 to the University of Lagos (UNILAG), covering 6,308 eligible students for the 2025/2026 academic session.

The payment, made on January, 19, 2026, follows the approved disbursement schedule and marks one of the largest single‑institution releases under the NELFUND student‑loan programme.

According to NELFUND, beneficiary lists are generated from verified institutional data submitted during application and validation.

It added that once funds reach a university, students should be able to register and attend classes without delay.

“The Fund always engages with the appropriate officials of tertiary institutions to ensure: proper reconciliation of beneficiary student lists; timely application of disbursed funds to all eligible students’ accounts; and clear communication to students to prevent misinformation and avoidable distress,” a statement signed by NELFUND’s Director, Strategic Communications, Mrs. Oseyemi Oluwatuyi said.

The Fund note that it is working with UNILAG’s bursary and student‑affairs offices to reconcile beneficiary records, apply the funds to individual accounts, and ensure clear communication to avoid misinformation.

Speaking on the matter, the Managing Director/Chief Executive of NELFUND, Mr Akintunde Sawyerr, reaffirmed the Fund’s commitment to transparency and student welfare.

“NELFUND remains fully committed to ensuring that approved student loan funds are disbursed promptly and applied appropriately.

“We are working closely with all partner institutions to resolve any administrative gaps and to ensure that no eligible student is disadvantaged,” he said.

NELFUND urged students and stakeholders to rely on official communications from the Fund and their institutions and assures the public that necessary steps are being taken to resolve any matter swiftly.

“For further clarification, students are encouraged to contact their institution’s bursary or student affairs office, while NELFUND continues engagement with UNILAG to conclude reconciliation,” it noted.