The University of Ibadan (UI) has officially confirmed the receipt of over N201 million from the Nigerian Education Loan Fund (NELFUND) to cover the tuition fees of eligible students. This development comes as a relief to many students who had applied for financial assistance through the loan program for the 2023/2024 academic session.
In a memo addressed to the Dean of Students, the university’s Registrar, Mr. Ganiyu Saliu, provided detailed information regarding the remittance. According to the Registrar, the sum of N201,114,650 has been deposited into the university’s account by NELFUND, specifically intended to support 1,370 students who successfully applied for the loan.
Mr. Saliu stated that the bursary department is currently working on processing the funds to ensure that the affected students can obtain their smart receipts, which are required for various academic and administrative purposes.
Importantly, the Registrar also noted that any student who has already paid their fees out-of-pocket but is also a beneficiary of the NELFUND loan is entitled to a refund.
“The Nigerian Education Loan Fund (NELFUND) has remitted the sum of Two Hundred and One Million, One Hundred and Fourteen Thousand, Six Hundred and Fifty Naira (N201,114,650.00) Only to the University Account for the 2023/2024 Academic Session. This amount is to cover the fees of One Thousand, Three Hundred and Seventy (1,370) students of our University who applied for the NELFUND loan.
“The Bursary Department is currently processing the fund to enable the concerned students to obtain Smart Receipt.
“Any student who is a beneficiary of the NELFUND loan and has already paid levies for the session fee is entitled to a refund. To apply for a refund, the student must write through the Dean of Students to the Deputy Vice-Chancellor, Academic, providing their account details for the refund. A photocopy of the original payment receipt must be attached to each application.
“Please note that this information is applicable ONLY to students who applied for the NELFUND loan, and whose applications were approved,” Saliu said.
