The Nigerian Education Loan Fund (NELFUND) disclosed a detailed breakdown of how it allocated N2,026,163,340 as institutional fees to six tertiary institutions across Nigeria.
This announcement was made via a post on NELFUND's official X handle, confirming a report by The Guardian.
The six beneficiary institutions include the University of Ibadan, Bayero University Kano, University of Ilorin, University of Benin, University of Maiduguri, and Federal University Dutsinma in Katsina State.
Bayero University Kano received the largest share of the funds, amounting to N853,775,000, while the University of Benin received the smallest allocation of N24,412,500.
The other allocations were as follows: University of Maiduguri received N589,001,500, Federal University Dutsinma got N304,961,800, University of Ibadan was allocated N201,114,650, and University of Ilorin received N52,897,890.
According to Akintunde Sawyerr, the Managing Director of NELFUND, these funds are intended to cover the educational expenses of over 20,000 students.
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