- Home University Gists Necessary Highlights NELFUND stated the very first confirmed LAUTECH batch has been processed and authorized, with disbursement now in the lasts
- . LAUTECH sent out 5,237 trainees in the first validated batch
- NELFUND said the batch came within the previous week
- The batch has actually been processed and approved
- Disbursement is now at Audit and Financing stages
- Approved worth stands at N1,571,544,300.00
Keep reading for the full LAUTECH NELFUND disbursement update.
< img src=" https://myschoolgist.com/wp-content/uploads/2022/02/LAUTECH.jpeg" height=" 840 "width=" 1600" alt=" LAUTECH NELFUND disbursement upgrade for approved trainee loans"/ > The Nigerian Education Loan Fund, NELFUND, has issued an explanation on current public statements about the supposed non-disbursement of authorized trainee loans to beneficiaries of Ladoke Akintola University of Innovation, Ogbomoso.
NELFUND said the claim that over 15,000 approved trainee beneficiaries are yet to get dispensation does not match its records. The Fund specified that LAUTECH submitted 5,237 trainees for processing within the previous week; it described that submission as the first confirmed batch received from the school for the existing disbursement cycle.
< img src="https://myschoolgist.com/wp-content/uploads/jamb-cbt-app.svg" alt="JAMB CBT App"/ >< img src="https://myschoolgist.com/wp-content/uploads/jamb-cbt-software.svg" alt="JAMB CBT Software"/ >
< img src="https://myschoolgist.com/wp-content/uploads/neco-waec-cbt-app.svg" alt="NECO and WAEC CBT App"/ > Tabulation What NELFUND stated about the LAUTECH batch
According to NELFUND, the 5,237-student batch has already been processed and approved.
The Fund added that the batch is now moving through the final stages of the dispensation workflow, consisting of Audit and Finance and Accounts. That stage, in plain terms, sits near payment; still, the Fund made it clear that approval and disbursement are not the exact same thing.
Why authorized trainee loans might not reach students simultaneously
NELFUND said loan approval does not suggest immediate disbursement.
The Fund described that each application needs to go through a confirmation and financial processing system before payment can go out. It said this process helps to make sure payments are precise, traceable, and connected to school records. For students watching carefully, that detail matters a great deal.
Worth of the approved LAUTECH batch
NELFUND stated the approved batch alone has a worth of N1,571,544,300.00.
That figure reveals the size of the batch already processed for LAUTECH students. The Fund utilized it to reveal that work on the plan is currently under way; the money included appears to see.
NELFUND’s message to schools on public declarations
NELFUND said it stays dedicated to the timely dispensation of all duly processed and verified trainee loans.
At the very same time, it encouraged recipient schools to make sure public statements on the scheme reflect the real status of submissions and processing timelines. The Fund stated early or misleading claims can develop anxiety among trainees and the public; they can also damage rely on the scheme.
What this means for LAUTECH trainee loan recipients
The key point from the explanation is direct. NELFUND stated LAUTECH has, for the current cycle, submitted one first validated batch of 5,237 students, which batch has already been processed and approved.
The dispensation has actually not been described as complete yet. NELFUND said the batch is still travelling through the last payment phases, particularly Audit and Financing and Accounts.
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