The Federal University Lokoja (FUL) has confirmed the disbursement of ₦188,002,500 in education loans to 1,631 students under the Nigerian Education Loan Fund (NELFUND) scheme.
This announcement comes amid concerns over delays in loan disbursements to some students.
According to the university’s Public Relations Officer, Daniel Ikechukwu Nwankwo, the disbursement process was conducted transparently.
A letter of appreciation was sent to NELFUND’s Managing Director on April 10, 2025, acknowledging the fund’s support.
Additionally, the list of beneficiaries was displayed on the Student Affairs Notice Boards across the campus to ensure transparency and allow students to verify their inclusion.
Despite these efforts, some students have yet to receive their funds.
The Dean of Student Affairs, Professor Yusufu Abdullahi, noted that approximately 60 students are affected due to issues with bank account details. About 40 students did not provide their account information, while around 20 submitted incorrect details.
The university is working with these students and the Bursary Department to rectify the issues and ensure prompt disbursement.
Student Union President Mr Benjamin Olorunfemi, known as Ben Praise, stated that the university is committed to resolving these delays.
He urged affected students to update their bank details promptly to facilitate the release of their funds.
The university has categorically denied any wrongdoing in response to allegations of misappropriation and financial misconduct.
The administration reaffirmed its commitment to transparency and effective management of student services, including the distribution of education loans under NELFUND.
The NELFUND initiative, established under the Student Loans (Access to Higher Education) Act of 2024, aims to provide financial support to Nigerian students pursuing higher education.
As of January 1, 2025, NELFUND had disbursed over ₦20 billion to 192,906 students across 133 tertiary institutions nationwide.
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