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The management of the Federal University of Agriculture, Abeokuta (FUNAAB) has issued an official update on the disbursement of the NELFUND student loan, following an error that resulted in some students receiving amounts higher than what they applied for.

According to the university, the discrepancy occurred during the loan payment process. As a result, all affected students have been directed to promptly refund the excess funds credited to their accounts.

Students who received more than the approved loan amount are required to visit the Students’ Union Building to meet with the Director of Finance and the Director of Treasury. At the venue, they will be issued a Remita Retrieval Reference (RRR), which must be obtained before any refund can be made.

The university stressed that all refunds must be completed on or before the end of the lecture-free week.

FUNAAB further warned that any student who fails to return the excess payment within the stipulated period will be barred from participating in examinations, as the unrefunded amount will be treated as unpaid school fees.

Affected students are therefore advised to act without delay and ensure full compliance with the directive.

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