The Nigerian Education Loan Fund (NELFUND) has revealed the reason for delay in the disbursement of stipends for the month of August.
NELFUND, in a statement signed by its Director, Corporate Communications, Mrs. Oseyemi Oluwatuyi on Thursday disclosed that the delay is due to ongoing payment processing.
“The Fund is conducting necessary security checks to protect public funds and ensure that they are properly allocated to the right beneficiaries,” the statement reads in part.
It acknowledged the inconveniences that comes with the process, however, the agency explained that it is an essential part of its commitment to maintaining transparency, accountability, and to continue to uphold the integrity of the students’ loan program.
“We therefore ask for your patience and understanding during this period, as we strive to finalize the disbursement with the same level of diligence that has defined our operations thus far.
“We remain steadfast in our mission to empower students and enhance access to higher education across Nigeria.”
The agency stated that it is working diligently to complete the disbursements as soon as possible.
It also expressed gratitude to the students for their feedback, stressing that it is pleased to see the level of engagement and attentiveness in monitoring the progress of the upkeep disbursements.
The statement added: “This level of involvement reinforces the significance of the student loan program, and we remain dedicated to supporting your educational pursuits, just as we have with previous disbursements.”
