The Vice Chancellor of Olabisi Onabanjo University (OOU), Ago – Iwoye, Professor Ayodeji Agboola, has said that the funds for 5,613 students that applied for the Nigerian Education Loan Fund (NELFUND) loan facility have been deposited in the University bank account already by NELFUND and ready for disbursement to the beneficiaries.
Agboola added that additional 1,270 fresh applications from the OOU students have been received, processed and forwarded to the NELFUND this week, stressing that the funds for the fresh applicants would also be deposited into the university account soon.
The Vice Chancellor who spoke with reporters during activities marking the university’s 35th Convocation Ceremonies for the 2024/2025 academic session, declared that 147 graduands earned First Class; a total of 2,051 in Second Class Upper Division; 2,927 in Second Class Lower Division with Ajayi David Bamidele of the department of Civil Engineering emerging the overall best graduating student with CGPA of 4.89.
He hailed the NELFUND initiative of President Bola Ahmed Tinubu – led administration, saying it has broadened access to tertiary education, and drastically reduced the rate of university drop-out and leave – of – absence applications in the OOU by students over financial constraints.
According to him: “The total number of students that NELFUND has already paid for as at now for this session alone is 5,613. As of today, I have the money in the account. Again, I’m also expecting another 1,270 from them. We just processed that one and sent it to them. They don’t change anything. It’s the figure that I sent to them.
“Once that is done, they will deposit the money. So what it implies is that we have 5,613 and fresh 1,270 applications which will give us a total 6,883.So, the total figure that the NELFUND will pay for this session will be 6,883.
“For now. I’ve not seen anybody applying for leave of absence. But we used to have the range of 3,000, 4,000 of them applying for leave of absence on a yearly basis. But with the advent of NELFUND at least, I can say for now, as at today, and our quota is closing on Friday, which is tomorrow, I’ve not seen any student that applied for leave of absence on account of financial incapability. So Next fund is actually doing well.
“If there are more people that apply, we’ll do it as they come. That was why we did the first 5,613. And then we now have the balance of 1,270 that we just submitted yesterday. And I’m very sure that this has solved this problem and the students all of them are in school now and they can confidently sit down for their examinations without looking for money to pay school fees. So we can give Next fund a round of applause as well.”
He pointed at the planned conferment of Honorary Degree of Doctor of Science on Mr. Ayo Ojuroye, Founder, Optimus Bank and Chairman, Mango Asset Management on January 31 as the high point and grand finale of the convocation ceremonies while the Minister of Communications, Innovation and Digital Economy, Dr. ‘Bosun Tijani would deliver the convocation lecture titled, “Repositioning Nigerian Universities as Innovation Hubs for Entrepreneurship and National Development” same day.
