By Ismaila Biliaminu Manne
The management of the University of Ibadan in Oyo State has confirmed receipt of funds from President Bola Tinubu’s Student Loan Scheme in a memorandum dated August 9, 2024.
The memo, issued by the Registrar’s office to the Dean of Students and signed by G.O. Saliu, was copied to key university officials including the DVC Academic, Bursar, Provosts, Deans of Faculties, Directors, Heads of Departments, and Faculty Officers. It references the “Nigerian Education Loan Fund (NELFUND)” and confirms the receipt of N201,114,650 as tuition payment for 1,370 student beneficiaries at the institution.
The memo also notes that the university’s bursary department is processing the funds, enabling the beneficiaries to obtain a “Smart Receipt” as evidence of payment. Students who have already paid their tuition fees will be refunded.
The memorandum states: “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 funds to enable the concerned students to obtain a 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.”
In a press release, Chief Ajuri Ngelale, Special Adviser to the President on Media & Publicity, stated that President Bola Tinubu signed the Student Loans Bill into law on April 3, 2024. The Act aims to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
Additionally, the Nigerian Education Loan Fund (NELFUND) management reported disbursing a total of N2.5 billion to 22,120 students across 12 tertiary institutions in the country. According to a statement signed by the agency’s spokesperson, Nasir Ayitogo, six institutions have already received full payment of their institutional fees, covering over 20,000 students, while the remaining six will receive their payments soon.
The University of Ibadan is among the first six universities to receive funds from this disbursement and has confirmed the receipt of payment.
