The Vice Chancellor of the Federal University of Agriculture, Abeokuta (FUNAAB), Prof. Olusola Kehinde, announced on Wednesday that approximately 5,000 students have benefited from the Nigerian Education Loan Fund (NELFUND) program.
According to the Vice Chancellor, the university received a total of about N840 million from NELFUND, which directly supported these 5,000 students.
Kehinde made the announcement during a press conference in Abeokuta that was organized for the university's 33rd convocation.
He emphasized that unlike in other institutions where students reported delays in receiving their funds, FUNAAB maintained a transparent process regarding the disbursement of loans.
He explained that NELFUND transfers the money straight into the university’s Treasury Single Account (TSA), allowing FUNAAB to reimburse students according to the amounts they applied for.
“At no time did we take any money from the students' NELFUND loans. Every amount a student applied for was fully paid out,” he stated.
Kehinde highlighted the university's commitment to prompt and complete disbursement of funds.
Furthermore, he revealed that a total of 4,141 students will graduate this year with Bachelor’s Degrees in a variety of fields.
Among these graduates, 104 will receive First Class Honours, 1,771 will graduate with Second Class Upper Division, 1,896 will achieve Second Class Lower Division, while 285 will obtain Third Class Degrees and only 2 will graduate with Pass Degrees.
Additionally, 41 students will earn the Veterinary Medicine degree, which is not classified.
Kehinde also expressed pride in announcing that 69 exceptional students will be graduating under the Part-time Degree program.
Lastly, the Vice Chancellor recognized Miss Isiamo Chinyere from the Department of Food Science and Technology as the top student with a CGPA of 4.85.
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