Students Loan: NELFUND Gets Additional N2m Repayment

The Nigerian Education Loan Fund (NELFUND) has received a donation of two million Naira from Adegboyega Awomolo, SAN, a former beneficiary of the student loan program. This contribution was made via a bank draft, according to a statement released by Monalisa Dike from NELFUND’s Corporate Communications Department on Friday in Abuja.

Awomolo, who took out the loan during his undergraduate studies at the University of Ife (now Obafemi Awolowo University) between 1975 and 1977, repaid the full amount. Dike noted that the original loan, which totaled N1,000 for two academic sessions, played a crucial role in helping Awomolo complete his law degree.

Despite several attempts to repay the loan over the years, Awomolo was only recently able to fulfill this obligation. In his letter to NELFUND’s Managing Director, Mr. Akintunde Sawyerr, Awomolo expressed his gratitude to the Nigerian government for the support he received and commended the transparency and accountability of NELFUND’s current management.

Dike emphasized that Awomolo’s repayment highlights the enduring impact of President Bola Tinubu’s initiative and the continued importance of NELFUND in supporting Nigerian students. The funds received will now be used to assist current students in need of financial support.