NELFUND explains delay in LAUTECH disbursement, confirms ₦230.6m paid to UniBen
By Uji A Iliyasu, Abuja
The Nigerian Education Loan Fund (NELFUND) has clarified the status of disbursements to Ladoke Akintola University of Technology (LAUTECH), explaining that payment to the institution is yet to be concluded due to pending institutional processes required under the Education Loan Scheme.
A statement on Monday signed by the Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, said the delay was a result of outstanding validation and reconciliation procedures specific to LAUTECH, which were not completed during the last disbursement cycle. The Fund noted that it is currently engaging the university’s management, led by the Vice Chancellor, Professor Rasak Olatunde Rom Kalilu, to resolve the issues and conclude the process as soon as practicable.
NELFUND stressed that disbursements are made only after all institutional requirements are fully met, assuring that efforts are ongoing to ensure prompt payment once the necessary steps are completed.
The Fund further appealed to LAUTECH authorities to allow the 12,733 verified students under the scheme to sit for their examinations, reiterating its commitment to settling its financial obligations to the institution.
Students and parents were advised to remain calm, as no beneficiary would be disadvantaged. Meanwhile, NELFUND confirmed the successful disbursement of funds to the University of Benin (UniBen) for eligible beneficiaries under the Education Loan Scheme.
According to the statement, UNIBEN officially acknowledged the receipt of two additional tranches of funds in January 2026, covering 2,673 students and amounting to ₦230,599,250. The acknowledgement letter was signed by the Vice Chancellor, Professor Edoba Bright Omoregie (SAN).
The Fund said the clarification became necessary following the circulation of a purported repayment circular, which UniBen has disowned. The university confirmed that the circular did not originate in it and that no repayment guideline has been issued.
NELFUND emphasized that funds have already been paid directly to UniBen and that no student is required to make any payment in connection with the loan scheme at this time. It added that neither the Fund nor the Federal Government has authorized any individual or group to demand payments from students.
Reaffirming its commitment to transparency and accountability,
NELFUND said it would continue to work closely with institutions to ensure that eligible Nigerian students fully benefit by the Education Loan Scheme.