Ifeoluwa Ayodele Ogunlola

Tuesday, August 6, 2024

NELFUND BEGINS PAYMENT OF N20,000 MONTHLY STIPEND TO STUDENTS

NELFUND BEGINS PAYMENT OF N20,000 MONTHLY STIPEND TO STUDENTS
The Nigerian Education Loan Fund (NELFUND) has commenced the payment of N20,000 monthly stipends to 20,371 students from six tertiary institutions nationwide.

According to a statement dated 5 August and signed by the agency’s Director of Finance and Accounts, Ibom Uche, the beneficiaries, who are students of Bayero University, Kano; Federal University, Dutsin-Ma; University of Ilorin; University of Benin; University of Ibadan and University of Maiduguri, have begun receiving upkeep stipends for the month of July.

Uche who said the agency is diligently working to commence the payment process for students from approximately 55 additional tertiary institutions, added thatthe payment will be concluded within the next two weeks as the fund is committed to ensuring that all eligible students receive their stipends promptly.

Meanwhile, the management had earlier released the breakdown of how it disbursed the sum of N2 billion as institutional fees to the six tertiary institutions.

The breakdown was released on the agency’s X handle on Saturday, saying it disbursed N853 million to Bayero University, Kano; N589 million to the University of Maiduguri, and N304 million to the Federal University, Dutsin-ma, Katsina State.

The University of Ibadan got N201 million; University of Ilorin got N52 million while University of Benin got N24 million.

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