The University of Ibadan says it has received the sum of N201,114,650 from the Nigerian Education Loan Fund (NELFUND) for 1,370 students of the institution for the 2023/2024 academic session.

The university’s Director of Public Relations, Mrs Joke Akinpelu, confirmed this to the News Agency of Nigeria on Tuesday in Ibadan.

An internal memo, dated Aug. 9 but seen by NAN on Tuesday, stated that the money was paid into the institution’s account to cover the fees of the 1,370 students who applied for the loan.

The memo, signed by the institution’s Registrar, Mr Ganiyu Saliu, and addressed to the Dean of Students, said that the bursary department was 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 Academics, providing their account details for the refund.

“A photocopy of the original payment receipt must be attached to each application,” the memo, entitled: ‘Re: Nigerian Education Loan Fund (NELFUND)’, stated.

According to the registrar, the information is only for those who applied for the NELFUND loan and whose applications were approved.