The Management of the Nigerian Education Loan Fund (NELFUND) has announced the successful disbursement of monthly stipends for July to 20,371 students from six tertiary institutions.
This was stated in Abuja on Monday by the Fund’s Director of Finance and Accounts, Mr. Ibom Uche.
Uche highlighted that this initiative reflects President Bola Tinubu’s unwavering commitment to supporting Nigerian students by ensuring financial stability throughout their academic journey.
According to reports, each beneficiary student received a monthly stipend of N20,000 for upkeep.
He mentioned that students from institutions where institutional fees had already been covered by NELFUND have started receiving their July stipends.
The institutions include Bayero University Kano, Federal University Dutsin-Ma, University of Ilorin, University of Benin, University of Ibadan, and University of Maiduguri.
“NELFUND is diligently working to commence the payment process for students from approximately 55 additional tertiary institutions,” Uche said.
“It is anticipated that this will be concluded within the next two weeks as the fund is committed to ensuring that all eligible students receive their stipends promptly.”
Uche emphasized that NELFUND remains steadfast in its mission to support the educational aspirations of Nigerian students by providing financial assistance for studies at qualifying institutions.
He added that the fund would also ensure the timely disbursement of stipends for daily expenses.
Notably, the President committed an additional N50 billion from recovered proceeds of crime to the fund on Sunday.
“NELFUND appreciates the patience and cooperation of students and institutions as the organization works assiduously to fulfill its commitments to Nigerian students,” Uche concluded.
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