Imisioluwa Bamidele 

The University of Ibadan has on Friday, August 16, organized a sensitization for students on the Nigerian Education Loan Fund(NELFUND).

In the sensitization programme and interactive session held by the University of Ibadan at Trenchard Hall, issues bordering on Nigerian Education Loan Fund( NELFUND) were addressed.

Debunking the claims that the loan was not real in his opening address, the Vice Chancellor of UI, Prof.Kayode Adebowale stated, “NELFUND is real and if you don’t key into it, you will be left behind”.

 Addressing the issue on the breach of the security of students’ data who applied for the loan, the Vice Chancellor advised that students should know where they will put their data. 

The Vice-Chancellor further said, “How can we explain that UI has 201 million in disbursement and another school has 1 million?  We cannot afford to lag behind, we have said we are first therefore let us remain the first.”

Taking over from the Vice Chancellor, The Head of ICT, Mr Ogunleye Olawale, in a virtual presentation reiterated the Vice Chancellor, “NELFUND is real but please believe that NELFUND is real.” 

Commenting on the eligibility for the loan application, he said; “According to the Act signed by Mr. President, this loan is only eligible to Nigerian students.”

On the matter of verifications, he said, “For 100-level students who may not have their ID card, we have made it optimal, so you can use your admission letter “.

Expressing his hopes about the initiative, Mr.Ogunleye revealed that: “From the last time we did disbursement to UI, an extra number of 3000 students have applied totalling number of applications to 4500 in the University of Ibadan, and by the end of the month, they will receive upkeep”.

Allaying fears about penalties for failure to repay the loan, he stated, “NELFUND will not strangle anyone if you are unable to pay back the loan” and he further clarified that “no student will be witch-hunted if they are unable to pay back the loan as the loan clause states that students are only to repay until 2 to 3 years after graduation when they have a tangible employment.”

Reaffirming his stance on the authenticity of the scheme, he added, “NELFUND is real and please key into this initiative. We want to improve the literacy level of our country.”