The Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, has denied a media report alleging it of making illegal deductions from the Nigeria Education Loan Fund (NELFUND) facilitated by the Federal Government.
In a statement made available to the Tribune Online, the Deputy Registrar, Olalekan Fadeyi, stated, “We would not have bothered to respond to the malicious story—which falls short of the responsible journalism —but for the fact that the publication erroneously listed Ladoke Akintola University of Technology, Ogbomoso, among the 51 universities it claimed misappropriated the funds.
“The truth of the matter is that LAUTECH has received only three tranches of funds from NELFUND since inception, and we make bold to state that the releases have been promptly disbursed to the approved beneficiaries, who are verified students of LAUTECH.
“Details of the releases, promptly administered as approved by NELFUND, include Eight Million, Six Hundred and Seventy Thousand Naira (N8,670,000) released on September 5, 2024; another tranche of Eighty-Three Million, Nine Hundred and Sixteen Thousand Naira (N83,916,000) released on November 1, 2025; and a third tranche of Three Hundred and Ninety-Seven Million, One Hundred and Fifty-Two Thousand Naira (N397,152,000) released on March 5, 2025.
“Of all these releases, nothing is being held back by the university. In fact, the university management has gone further to instruct the bankers in charge of the funds not to add any extra charges while crediting students’ accounts.
“It is therefore ridiculously unacceptable for a newspaper company to go to press with such a weighty accusation without bothering to seek any clarification from the university.”
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