NELFUND confirms delay in August stipend allocation, says payment is in process

NELFUND confirms delay in August stipend allocation, says payment is in process

Abdullateef Fowewe

The Nigerian Education Loan Fund has confirmed the delay in its August stipend disbursement, explaining that the disbursement is delayed because of the ongoing payment processing to ensure transparency and accountability.

NELFUND in a circular on Thursday by its Director, Corporate Communications, Oseyemi Oluwatuyi, disclosed the N20,000 stipend for beneficiaries of the student loan for August is being processed, stressing that the agency is conducting essential security checks to protect public funds and ensure that they are allocated to the right beneficiaries.

The circular reads, “The Fund is conducting necessary security checks to protect public funds and ensure that they are properly allocated to the right beneficiaries.”

NELFUND while acknowledging the inconvenience the process might have caused for the beneficiaries, noted that is an essential part of the agency’s commitment to maintaining transparency and accountability and to continue to uphold 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,” the circular emphasised.