Adeyemi Federal University of Education (AFUED) has disclosed that the institution is yet to receive N68,316,200 in student loan funds from the Nigerian Education Loan Fund (NELFUND), despite 995 eligible students applying for the financial aid.

The Acting Vice Chancellor of the institution, Prof. Samuel Akintunde, who disclosed this, revealed that the pending sum excludes the ₦20,000 monthly stipends promised under the scheme.

While revealing this during a press briefing to herald the university’s 35th convocation ceremony, Akintunde expressed optimism that the funds would soon be transferred to the university.

He said, “On the issue of student loans, NELFUND is yet to make a release to us, but we are expecting it because it has reached the level of releasing the money to the university. The total amount we are expecting to be released is N68,316,200, and that is for 995 students who applied for the loan.

“Don’t forget that NELFUND is not automatic; if a student refuses to apply, he will not get the fund, and such a student will have to source for funds and pay his school fees by himself. 995 students applied, and that is the amount to be given to the university on their behalf. That amount does not include their monthly stipend of 20,000 each.”
Akintunde maintained that the institution will convocate a total number of 18,825 students, stating that
the convocating students were a compilation of six sets consisting of 6,269 students from NCE, 11,501 students from degrees and 1,055 students from part-time programmes.

Reeling out the programme of the ceremony, the VC disclosed that the school was also set to honour the first lady of the Federal Republic of Nigeria, Oluremi Tinubu.

According to him, Remi Tinubu, who was an alumnus of the school, played a vital role in ensuring the transition of the school from the College of Education to a university.

“It is important to note that three outstanding Nigerians, including the first lady, Senator Oluremi Tinubu, are to be awarded honorary doctorate degrees at the event,” he said.

“Apart from the fact that the first lady is a distinguished alumna of this university from the department of Botany and Zoology, her role so far as a teacher before becoming a politician made her merit the award. In addition to that, she played significant roles in the emergence of Adeyemi as a university.”