NELFUND: LASUSTECH Receives ₦112M, Contradicting Initial ₦7.8M for 82 Students

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By Habeeb Ibrahim 
 
The Lagos State University of Science and Technology (LASUSTECH) has acknowledged the receipt of ₦112,057,000.00 (One Hundred and Twelve Million, Fifty-Seven Thousand Naira Only) from the Nigerian Education Loan Fund (NELFUND). 

The funds were allocated to 1,233 students under the NELFUND student loan program.

This announcement contradicts an earlier statement by NELFUND, which indicated that only 82 LASUSTECH students would benefit from a total disbursement of ₦7,853,000.

The development was disclosed in a letter signed by the Vice-Chancellor, Prof. Olumuyiwa Omotola Odusanya, and addressed to the Managing Director/CEO of NELFUND. 

"The institution acknowledges the receipt of payment of ₦112,057,000.00 for 1,233 students who applied for the NELFUND student loan program," Prof. Odusanya stated in the letter.

Earlier in the week, LASUSTECH WATCH had received an anonymous tip regarding the payment but refrained from publishing until confirmation from official sources. The anonymous informant had accurately disclosed the disbursed amount.

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