- UNILORIN Got N951.3m From NELFUND Since 2024 to date
- We Are Yet to Be Refunded – Beneficiaries
The management of the University of Ilorin (UNILORIN) has revealed that it has—to date—received N951,325,300 in tuition payments for 10,246 students since the Nigerian Education Loan Fund (NELFUND) commenced in 2024.
The institution made the revelation on Wednesday, April 30, 2025, while denying its involvement in illegal deductions from the beneficiaries of the loans, as reported by The Guardian Newspapers.
The daily had, in a report, revealed the names of 51 Nigerian universities allegedly involved in sharp practices in the disbursement of loans, including making deductions or failing to refund tuition fees to beneficiaries whose loans were disbursed by NELFUND.
The report stated that “UNILORIN makes N3,000 on each student, charging N110,000 instead of N107,000,” while also indicting 50 other universities, including the University of Abuja, for charging N5,000 extra from the students.
UNILORIN Rebuttal
But in a rebuttal, the Director of Corporate Affairs at UNILORIN, Kunle Akogun, described the report as not only damaging to the integrity of the institution but also a mistake, saying “the lumping of our University with others is a mistake by the newspaper,” stating the newspaper never “sought clarification from us before labeling us negatively.”
Data of Receipts Since 2024
UNILORIN stated that, since the commencement of the disbursement of the loans, it has received a total of N951,325,300 as institutional loans on behalf of 10,246 undergraduate students in three tranches to date for the 2022/2023 academic session:
- N52,897,000 for 802 students in the first tranche;
- N219,407,370 for 2,171 students in the second tranche;
- while the third tranche for 7,273 students was N679,020,930.
He countered the damning report, stating that UNILORIN not only paid promptly but also kept beneficiaries updated about their loan application status, adding that those who had earlier made payments before their NELFUND loans were disbursed had been reimbursed accordingly.
Clarifying the alleged deductions, the image maker of the institution said they were school charges.
The statement read:
“The second tranche of N219,407,370 was for 2,171 beneficiaries. Students in this category did not pay school charges. They were programmed for ‘non-payment’ so that they could proceed with their online registration when it was clear that NELFUND disbursement would not arrive before the close of the registration exercise. When disbursement was eventually made and payment advice sent, it was discovered that 1,850 of the beneficiaries had a shortfall of N2,500 each based on expected school charges.”
He promised that full refunds for 1,907 students were ongoing, “whose details have been confirmed for full refund.”
We Are Yet to Be Refunded – Beneficiaries
However, findings by EdubaseNG show that some students of the institution have complained that they are yet to be refunded, months after applying.
Some of them revealed that it is almost a semester since they submitted refund requests, to no avail.
The students, who wished to remain anonymous for fear of being haunted, said:
“I submitted refund letter to student affairs already and I haven’t receive refund as most of my coursemate we submit letter together already received refund on Monday. I hope the process continues that so the rest of us get refund.”
Second student:
“I am yet to get a refund for my Nelfund school charges payment (2022/2023) even after submitting a letter requesting for refund to the student affairs unit. Kindly help review the refund process as most students who applied are yet to receive the refund as well.”
Third affected student:
“Have UNILORIN started refunding tuition? I applied for a refund last semester through a written letter to the Student Affairs department, but I still haven’t received my tuition refund. Or have tuition refunds not started yet? My Nelfund portal shows my tuition status as disbursed.”
The latest revelation casts doubt on the transparency of the loans and the culpability of receiving institutions and banks in the disbursement process.
Join EdubaseNG WhatsApp Channel to get the latest education & student loan tips
Join our Telegram Channel to get the latest news about Student Loans & Education News.

Are you a stakeholder in education? You can become our guest writer. Write to us using our our email address here