Abuja, Nigeria — The Nigerian Education Loan Fund (NELFUND) has received a N2 million refund from Adegboyega Awomolo, a former beneficiary of its student loan program. The refund, which arrived via bank draft, was announced in a statement released by Monalisa Dike from the Corporate Communications Department on Friday.
Awomolo, a Senior Advocate of Nigeria (SAN), received the loan during his undergraduate studies at the University of Ife (now Obafemi Awolowo University) between 1975 and 1977. According to Dike, the loan, initially amounting to N1,000 for two sessions, was crucial for Awomolo’s completion of his law degree.
Despite several attempts over the years to repay the loan, Awomolo had been unable to do so until now. In his letter to NELFUND’s Managing Director, Mr. Akintunde Sawyerr, Awomolo expressed his gratitude to the Nigerian government for the support the loan provided and acknowledged the transparency and accountability of NELFUND’s current management.
Dike highlighted that Awomolo’s repayment not only marks the full and final settlement of his loan but also reflects his commitment to his nation. She emphasized that this gesture underscores the enduring value of education and the importance of fulfilling one’s obligations.
The N2 million refund will be reinvested to support current students in need of financial assistance. NELFUND remains dedicated to enhancing access to education for future generations of Nigerian students, regardless of their financial backgrounds.
This development also underscores the impact of President Bola Tinubu’s initiatives and the ongoing relevance of NELFUND’s mission in supporting Nigerian education.
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