The Nigerian Education Loan Fund (NELFUND) has disbursed ₦42.8 million to 339 students of Adeyemi Federal University of Education, Ondo State, for the 2024/2025 academic session.
The payment, made on August 28, covered institutional charges and was confirmed by the university’s Vice-Chancellor, Prof. B.I. Popoola, in a letter dated September 5.
He acknowledged receipt of the funds through the institution’s Central Bank of Nigeria account and commended NELFUND for its intervention. “This is to acknowledge the receipt of ₦42,787,200.00 being the institutional charges for 339 students of Adeyemi Federal University of Education, Ondo,” Popoola said.
On its official X platform, NELFUND stated that the payment reflects its commitment to supporting educational institutions and empowering students through targeted funding.
As of September 23, NELFUND disclosed that it had disbursed ₦99.55 billion in student loans nationwide, reaching 510,378 beneficiaries. Of the total, ₦53.8 billion was paid in institutional fees across 228 institutions, while ₦45.7 billion was allocated for upkeep allowances.
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