THE Management of the Nigerian Education Loan Fund (NELFUND) under the leadership of Mr Akintunde Sawyerr, the Managing Director has announced the successful disbursement of N20,000.00 monthly stipends for the month of July to 20,371 students from six tertiary institutions.

Director Finance and Accounts of NELFUND, Mr. Ibom Uche announced the development in a statement issued on Monday, August 5, 2024.

Uche informed that students from Bayero University Kano, Federal University, Dutsin-Ma, University of Ilorin, University of Benin, University of Ibadan and University of Maiduguri whose institutional fees had already been paid by NELFUND have begun to receive July upkeep stipends.

He further stated that the Fund was diligently working to commence the payment process for students from approximately 55 additional tertiary institutions.

“It is anticipated that this will be concluded within the next two weeks as the fund is committed to ensuring that all eligible students receive their stipends promptly.

“NELFUND remains steadfast in its mission to support the educational aspirations of Nigerian students by providing financial assistance for studies at qualifying institutions and ensuring the timely disbursement of stipends for day to day expenses.

“It is noteworthy that the President only Sunday committed a further 50 billion Naira from recovered proceeds of crime.

“NELFUND appreciates the patience and cooperation of students and institutions as the organisation works assiduously to fulfill its previous made commitments to Nigerian students”, he said.