NELFUND has disbursed N840m to 5,000 FUNAAB students – VC

The Vice Chancellor, Federal University of Agriculture, Abeokuta (FUNAAB), Prof. Olusola Kehinde, on Wednesday, disclosed that at least 5,000 students of the university had benefited from the Nigerian Education Loan Fund (NELFUND) scheme.

The VC said the university had received about N840million from NELFUND covering the 5000 students.

Kehinde spoke during the 33rd convocation press conference held at the institution in Abeokuta on Wednesday.

He said contrary to reports from some institutions where students complained of non-disbursement of the funds, FUNAAB ensured transparency in the handling of the loans.

According to hin, 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.

“At no point did we deduct one naira from the students’ NELFUND funds. Whatever amount a student applied for was fully disbursed to them,” he said.

Kehinde added that the university ensured prompt and complete disbursement of the funds.

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.

The vice chancellor also announced Miss Isiamo Chinyere from the Department of Food Science and Technology as the overall best student with CGPA 4.85.

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