The Nigerian Education Loan Fund, NELFUND, has announced the receipt of two million Naira, through a bank draft from a former beneficiary of student loan, Adegboyega Awomolo, SAN.
This is contained in a statement by Monalisa Dike, from the Corporate Communications Department of the fund on Friday in Abuja.
Dike said that Awomolo benefitted from the loan during his undergraduate studies at the University of Ife (now Obafemi Awolowo University) between 1975 and 1977.
According to her, the senior lawyer demonstrated his unwavering commitment to the nation by repaying the loan in full.
“The loan, which at the time amounted to a total of N1,000 for two sessions, was instrumental in helping him complete his law degree.
“Despite several previous attempts, over the years, to refund the loan, Awomolo was unable to fulfill the repayment until now.
“In his letter to the Managing Director of NELFUND, Mr Akintunde Sawyerr, Awomolo expressed his gratitude to the Nigerian government for the opportunity that the student loan provided him,” she said.
She further said that Awomolo acknowledged the transparency and accountability that NELFUND had demonstrated in its current management of student loans.
Dike reiterated that Awomolo’s repayment came as a testament to the lasting impact of President Bola Tinubu’s initiative and the ongoing relevance of NELFUND in supporting Nigerian students.
She, however, said that the funds would be used to fund the education of students who need the loan now.