In a recent announcement, the Nigerian Education Loan Fund (NELFUND) provided a status update regarding disbursements to the Ladoke Akintola University of Technology (LAUTECH).
The Fund confirmed that payment to LAUTECH remains pending due to unresolved institutional processes necessary to finalize the disbursement under the Education Loan Scheme.
NELFUND stated that they are actively engaging with the university’s management team, led by Vice-Chancellor Professor Rasak Olatunde Rom Kalilu, to address the outstanding issues and expedite the completion of the disbursement process.
The Fund clarified that disbursements can only be executed once all specific validation and reconciliation requirements related to the institution have been fulfilled. Unfortunately, these processes were not completed in time for the last disbursement cycle for LAUTECH.
Despite the delays, NELFUND assures that 12,733 verified LAUTECH students enrolled in the scheme will still be permitted to sit for their examinations.
The Fund remains fully committed to fulfilling its financial obligations to the university as soon as the necessary steps are finalized. Students and parents are encouraged to remain calm, as no beneficiary will be adversely affected by this situation.
In a related update, NELFUND announced the successful disbursement of funds to the University of Benin (UNIBEN) for eligible student beneficiaries under the Education Loan Scheme.
An official acknowledgment letter from UNIBEN, signed by Vice-Chancellor Professor Edoba Bright Omoregie (SAN), confirmed the receipt of two additional tranches of funds totaling ₦230,599,250, which cover 2,673 students. These funds were received in January 2026.
This clarification is particularly pertinent in light of circulating reports regarding a falsified repayment circular, which UNIBEN has officially disowned. The university has confirmed that the circular did not originate from its administration and that no repayment guidelines have been issued at this time.
NELFUND reiterated that funds have been disbursed directly to UNIBEN, and no student is required to make any payments associated with the loan scheme presently. Additionally, neither NELFUND nor the Federal Government has authorized any individual or entity to solicit payments from students or beneficiaries.
The Nigerian Education Loan Fund remains dedicated to transparency, accountability, and collaboration with educational institutions to ensure that eligible Nigerian students can fully benefit from the Education Loan Scheme.
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