UI Confirms NELFUND's N201m Loan remittance, To Refund 1,370 Students' Fees

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The management of the University of Ibadan has announced that students who are beneficiaries of the Nigerian Education Loan Fund (NELFUND) and have already paid session fees are entitled to a refund.

In a statement released on Monday, the University of Ibadan announced that the Nigerian Education Loan Fund (NELFUND) has transferred a sum of N201,114,650.00 to the university’s account for the 2023/2024 academic session.



The university management further stated that the funding is intended to cover the fees of 1,370 students who applied for the NELFUND loan. The Bursary Department is currently processing the funds to facilitate the issuance of Smart Receipts for the affected students.

It reads, "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 fund to enable the concerned students to obtain 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."

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