Vice Chancellor, Federal University of Agriculture, Abeokuta, FUNAAB, Prof Olusola Kehinde, says 5,000 students of the university have benefited from the Nigerian Education Loan Fund, NELFUND, scheme.
Kehinde spoke during a news conference heralding the 33rd convocation ceremony held at the institution in Abeokuta on Wednesday.
The vice chancellor disclosed that the university had received about N840million from NELFUND, saying that the Federal Government gesture has been beneficial to both the institution and its students.
According to him, contrary to reports from some institutions where students complained of non-disbursement of the funds, he stressed that FUNAAB ensured transparency in the handling of the loans.
The vice chancellor revealed that NELFUND disburses the funds directly into the university’s Treasury Single Account (TSA), after which the institution reimburse students based on the amounts they applied for.
At no point did we deduct one naira from the students’ NELFUND funds. Whatever amount a student applied for, was fully disbursed to them,” he said.
Kehinde added that the university ensured prompt and complete disbursement of the funds, stressing that students of the institution have received not less than N840 million from NELFUND.
He expressed appreciation to NELFUND for its support to the students.
The vice chancellor disclosed that the university would be graduating a total of 4,141 students with Bachelor’s Degrees in various disciplines.
“Out of these, a total of 104 graduate with First Class Honours Degree, 1,771 in the Second-Class Upper Division, 1,896 in the
Second-Class Lower Division, while 285 had Third Class Degrees and only 2 graduated
with Pass.
“The remaining 41 graduands earned the Veterinary Medicine degree, which is not classified.
In addition, it gives me great joy to announce that 69 distinguished graduands are successfully completing their studies under the Part-time Degree,” he said.
The vice chancellor also announced Miss Isiamo Chinyere, from the department of Food Science and Technology as the overall best student with CGPA 4.85.
