The Nigerian Education Loan Fund has clarified that geopolitical zones don’t affect the disbursement of its funds.
This got here after NELFUND shared that it had launched the sum of N2.94bn to 19 universities for 27,667 college students.
The checklist revealed that universities within the South-East and South-South areas weren’t included among the many beneficiaries, sparking criticism from some Nigerians.
An X consumer, @Donaldsplendo, tweeted, “Not surprised to see SE being neglected once again. No funds were allocated to students in UNIZIK, FUTO, MOUAU, and even the University of Nigeria (UNN). I’m pretty sure a lot of students in those schools applied for the loan just like every other Nigerian scholar One Nigeria una.”
Another consumer, @Tonia_dimma, stated, “South-South how market, one Nigeria but no allocation for South- South, we South East are prepared already but how market South-South.”
Meanwhile, in a press release shared through its verified X deal with (@nelfund), the company acknowledged that geopolitical zones didn’t affect its fund distribution course of.
It learn, “It’s essential to make clear that geopolitical zones are usually not an element within the disbursement course of. NELFUND despatched a verification checklist to each establishment eligible for disbursement. Payments are being made to establishments which have responded to this verification.
“Unfortunately, we have not yet received any response from the institutions in the South-East. We urge these institutions to complete the verification process so that their students can benefit from the scheme.”
Meanwhile, the fund acknowledged the receipt of N50bn from recovered proceeds of crime from the Economic and Financial Crimes Commission.
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The Head of Corporate Communications, NELFUND, Oseyemi Oluwatuyi, the mortgage fund stated it “expressed its pleasure as it receives an additional N50 billion from the Economic and Financial Crimes Commission.”
The Oluwatuyi famous that the discharge adopted the directive of President Bola Tinubu in his speech on 4th August, 2024, directing the EFCC to switch the funds to NELFUND to additional increase the scholar mortgage programme.
“This significant injection of funds represents a major milestone in the Administration’s commitment to bolstering access to education by providing financial support to students across Nigeria,” the assertion famous.
The fund recommended President Bola Ahmed Tinubu for what it described as unwavering dedication to the training sector and his continued efforts to help probably the most weak segments of the inhabitants.
“By deciding to allocate these funds to the student loan scheme, President Tinubu has once again demonstrated his visionary leadership and commitment to fostering a brighter future for Nigerian students and to the socioeconomic advancement of Nigeria,” the fund stated.