Nigerian Education Loan Fund stalls recruitment amid 80% staff redundancy and allocates N1.5 bn to universities

A source at the Federal Ministry of Education said the Nigerian Education Loan Fund (NELFUND) is overstaffed, with about 80% of its personnel redundant, and that no new recruitment has been approved. The Board Chairman, Jim Ovia, halted a recruitment drive that had already issued engagement letters to new hires in January 2025, contradicting media reports that blamed the Education Minister, Dr Olatunji Alausa, for the delay.

Separately, NELFUND announced a disbursement of N1.5 billion for the 2025/2026 academic session to three institutions: Bamidele Olumilua University of Education, Science and Technology (Ekiti State) – N1,360,920,800 for 5,396 students; Sikiru Adetona College of Education, Science and Technology (Ogun State) – N104,530,000 for 680 students; and Edo State College of Nursing Sciences – N36,485,000 for 53 students, covering a total of 6,129 students. Beneficiary schools confirmed receipt, while some students expressed frustration over delayed monthly upkeep allowances.