The Nigerian Education Loan Fund (NELFUND) has refuted claims that more than 15,000 approved students of the Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, are yet to receive loan disbursements.
According to NELFUND, the institution only submitted 5,237 students for processing.
In a statement by its Director of Strategic Communications, Mrs Oseyemi Oluwatuyi, NELFUND said the list is the first verified batch received from the university for the current disbursement cycle.
The Fund said the applications have been processed and approved and are currently undergoing final stages of disbursement, including audit and finance checks.
It explained that loan approval does not translate to immediate payment, as each application must pass through verification and financial processing to ensure accuracy and accountability.
According to NELFUND, the approved batch will get N1,571,544,300.
The Fund advised institutions to ensure that public statements on the scheme reflect accurate submission and processing timelines.
It warned that misleading claims could create anxiety among students and erode public confidence.
It reaffirmed its commitment to the timely disbursement of all verified loans and working with institutions to ensure a transparent and efficient process.