NELFUND explains the reasons behind the delay in disbursing the August student loan stipend, citing logistical challenges and funding issues.

To prevent the funds from falling into unauthorized hands, NELFUND’s Director of Corporate Communications, Mrs. Oseyemi Oluwatuyi, signed a statement on Thursday announcing the action.

According to the statement released by NELFUND, students are informed that there has been a delay in receiving their August stipend due to ongoing payment processing.

The Fund is performing mandatory security verifications to safeguard public funds and guarantee their appropriate allocation to eligible recipients.

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Acknowledging that this process could lead to inconvenience, we view it as a crucial aspect of our dedication towards ensuring transparency and accountability while upholding the Student Loan program’s integrity.

Please bear with us and be understanding as we work to complete the disbursement process diligently, maintaining the same level of excellence that has characterized our operations thus far.

Our commitment to empowering students and promoting higher education access in Nigeria remains resolute.

The fund is putting in great effort to ensure that the disbursements are completed at the earliest convenience.