NELFUND pays UNILAG students billions for school fees

N1.33 billion just landed at UNILAG, loans are live, and NELFUND is basically saying register, get to class, and stop panicking.

What just hit the university

• The Nigerian Education Loan Fund confirmed it pushed N1.33 billion to the University of Lagos.
• This cash drop is locked to the 2025/2026 academic session.

Who confirmed the money move

• The update came from Oseyemi Oluwatuyi in Abuja.
• She spoke for Akintunde Sawyerr, the Managing Director and CEO of the fund.

When the transfer happened

• Sawyerr said the release hit UNILAG on January 19.
• The timing followed the already approved payout calendar for the session.

Who does this actually cover?

• The funds are set to handle 6,308 UNILAG students who cleared every requirement under the student loan program.
• These names were pulled from verified school data during application and validation checks.

What students are expected to do

• Once schools get the money, beneficiaries are expected to register and jump straight into academic activities.
• No waiting around, no academic limbo excuses.

What NELFUND says it is fixing behind the scenes

• The fund plans to keep talking with tertiary institution officials to line up beneficiary lists.
• The goal is timely posting of funds to student accounts and fewer rumors.

What the fund is promising publicly

• NELFUND restated its commitment to transparency and student welfare.
• Sawyerr said the focus stays on fast releases and the correct use of approved loan funds.

What happens if there is confusion

• Students were told to check with their school bursary or student affairs offices first.
• NELFUND said it is actively working with UNILAG to wrap up reconciliation and close out loose ends.