A former beneficiary of the Nigerian Education Loan Fund (NELFUND), Adegboyega Awomolo, SAN, has repaid a debt of N2 million, 46 years after benefiting from the loan.
According to a statement by Monalisa Dike, of the Corporate Communications Department of NELFUND, Awomolo received the loan during his undergraduate studies at the University of Ife (now Obafemi Awolowo University) between 1975 and 1977.
The loan, which amounted to N1,000 for two sessions, was instrumental in helping him complete his law degree. Despite several previous attempts to refund the loan, Awomolo was unable to fulfill the repayment until now.
In a 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. He also acknowledged the transparency and accountability that NELFUND had demonstrated in its current management of student loans.
Dike said 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. The funds, she added, would be used to fund the education of students who need the loan now.
The repayment of the loan by Awomolo, a senior lawyer, has been hailed as a demonstration of his commitment to the nation and his appreciation for the support he received during his undergraduate studies.
NELFUND, established to provide financial support to Nigerian students, has been instrumental in helping many students complete their education. The fund’s efforts have been boosted by the repayment of loans by beneficiaries like Awomolo, who have demonstrated their gratitude for the support they received.
