The Nigerian Education Loan Fund (NELFUND) has stated it had disbursed a complete of N32,893,010,000 and never N104 billion to college students beneath the coed mortgage scheme.
The company made the clarification in an announcement yesterday in Abuja in response to stories on how a lot it had disbursed beneath the mortgage scheme.
The assertion reads: “The administration of the Nigerian Training Mortgage Fund (NELFUND) beneath the management of Akintunde Sawyerr needs to right the wrong stories concerning the entire quantity disbursed beneath the Scholar Mortgage Scheme. Opposite to claims that over N104 billion has been disbursed to 600 beneficiaries, the precise figures are as follows:
“As of February 3, 2025, NELFUND has obtained a complete of 364,042 scholar mortgage purposes. To this point, the fund has disbursed a complete of N20,074,050,000 for institutional charges, benefiting 192,906 college students throughout varied tertiary establishments.
“Moreover, for maintenance, NELFUND has disbursed N12,818,960,000 to 169,114 college students, every receiving a month-to-month stipend of N20,000.
“We respect the unwavering assist of President Bola Ahmed Tinubu (GCFR) in making increased training accessible to all deserving Nigerian college students. NELFUND stays dedicated to transparency and effectivity in managing the coed mortgage scheme and can proceed to supply correct updates as disbursements progress.”