NELFUND disburses N840m to 5,000 FUNAAB students – VC

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About 5000 students at the Federal University of Agriculture, Abeokuta, FUNAB, have benefited from the student loans administered by the Nigerian Education Loan Fund (NELFUND) scheme.

This was made known on Wednesday by Prof. Olusola Kehinde, Vice Chancellor of the university.
He was speaking during the 33rd convocation news conference held at the institution’s premises in Abeokuta.

According to the vice chancellor, the university had received about N840million from NELFUND. He said the Federal government gesture had been beneficial to both the institution and its students.

Professor Kehinde explained that contrary to reports from some institutions where students complained of non-disbursement of the funds, he stressed that FUNAAB ensured transparency in the handling of the loans.

The Vice Chancellor explained that NELFUND disburses the funds directly into the university’s Treasury Single Account (TSA), after which the institution reimbursed students based on the amounts they applied for.”
Kehinde added that the university ensured prompt and complete disbursement of the funds, stressing that students of the institution had received not less than N840 million from NELFUND.

He expressed appreciation to NELFUND for its support to the students.

Meanwhile, the vice chancellor disclosed that the university would be graduating a total of 4,141 students
with bachelor’s Degrees in various disciplines.

“Out of these, a total of 104 graduate with First Class Honours Degree, 1,771 in the Second-Class Upper Division, 1,896 in the
Second-Class Lower Division, while 285 had Third Class Degrees and only 2 graduated
with Pass.

” The remaining 41 graduands earned the Veterinary Medicine degree, which is not classified.
” In addition, it gives me great joy to announce that 69 distinguished
graduands are successfully completing their studies under the Part-time Degree,” he said.