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The University of Ibadan has acknowledged the receipt of a total sum of N201,114,650 as school fees for 1,370 students for the 2023/2024 Academic session.
The money, which was paid directly into the University account was for the students who applied for the student loan through the Nigerian Education Loan Fund (NELFUND) initiative of the federal government.
In a leaked viral memo from the registrar, Ganiyu Saliu to the Dean of Students’ Affairs, the institution assured that any student who is a beneficiary of the NELFUND loan and has already paid levies for the session fee is entitled to a refund.
It added that 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.
The memo which was sighted by The Nation was also confirmed by a source who pleaded not to be quoted.
“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.
“Please note that this information is applicable ONLY to students who applied for the NEL FUND loan, and whose applications were approved.”
When The Nation visited UI, the source who confirmed the memo said the lists of beneficiaries would be compiled by the Bursary Department so that students whose applications were approved by NELFUND would know themselves.
He described the situation as a good development for the sector, noting that it would boost the morale of many students in the Federal government through student loans.
