The Nigerian Education Loan Fund, NELFUND, has attributed the delay in the payment of students' August stipends to "payment processing."

The students' loan agency explained in a statement on Thursday by its Director, Corporate Communications, Mrs. Oseyemi Oluwatuyi, that it is conducting necessary security checks to protect public funds and ensure that they are properly allocated to the right beneficiaries.

To this end, it appealed to benefiting students to exercise patience while it works to finalize the disbursement with the same level of diligence that has defined its operations so far.

The statement reads:"The Nigerian Education Loan Fund, NELFUND, wishes to inform students that the delay in the August stipend is due to ongoing payment processing.

"The Fund is conducting necessary security checks to protect public funds and ensure that they are properly allocated to the right beneficiaries.

"While we acknowledge that this process may cause some inconvenience, it is an essential part of our commitment to maintaining transparency, and accountability, and to continue to uphold the integrity of the student loan program.

"We therefore ask for your patience and understanding during this period, as we strive to finalize the disbursement with the same level of diligence that has defined our operations thus far.

"We remain steadfast in our mission to empower students and enhance access to higher education across Nigeria.

"The fund is working diligently to complete the disbursements as soon as possible.

"We appreciate the feedback from students and are pleased to see the level of engagement and attentiveness in monitoring the progress of the upkeep disbursements.

"This level of involvement reinforces the significance of the student loan program, and we remain dedicated to supporting your educational pursuits, just as we have with previous disbursements."