Next Week, NELFUND Beneficiaries to Receive Alerts

Following the official launch of the National Education Loan Fund (NELFUND) disbursement by President Bola Ahmed Tinubu, successful beneficiaries will start receiving credit alerts next week. NELFUND Managing Director and CEO, Mr. Akintunde Sawyer, announced this during a media chat.

According to Sawyer, “The first recipients of the alerts next week will be students about to start a new session in their respective institutions.”

He revealed that over 110,000 students have successfully applied and been verified as eligible applicants.

However, further verification will be conducted to ensure their loan eligibility.

President Tinubu symbolically handed over cheques to beneficiaries at the Presidential Villa in Abuja on Wednesday.

Sawyer also disclosed that NELFUND has received N35 billion in financial support from the Nigerian government.

The reviewed Students Loan Act, signed in April, marked the official launch of NELFUND, which has already begun disbursing loans to 1.2 million students in federal tertiary institutions and has commenced phase two with state-owned institutions.

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