NELFUND approves student loan disbursement

The Nigerian Education Loan Fund has given the green light for student loans to be distributed to eligible candidates.

NELFUND recently conducted its first board meeting, a significant step in its commitment to assisting students with financial support.

Led by Chairman Mr. Jim Ovia, the board has authorized the prompt release of student loans to successful applicants. A statement obtained from the agency’s official account on Wednesday evening confirmed this update.

The headline for the press release read: NELFUND’s First Board Meeting Focuses on Student Loan Disbursement. Nasir Ayitogo, Head of Media and Public Relations, was the signatory.

The gathering, which included fund executives and member organization delegates, not only prioritized student support but also set the stage for upcoming projects aimed at enriching educational prospects and aiding students in diverse fields.

NELFUND’s approval of the loans represents a significant stride in fostering the development of future leaders through educational empowerment.

In an announcement, it was disclosed that NELFUND convened its first board meeting in Abuja on Wednesday, June 26, 2024.

This gathering stands as a crucial moment in the organization’s dedication to supporting students financially and enabling their educational pursuits.

Mr. Jim Ovia, as the Chairman of the Board, spearheaded the approval for distributing student loans to qualified applicants as a top priority.

This initiative is in line with the government’s vision of enhancing education quality and accessibility for all. President Bola Ahmed Tinubu’s commitment to offering timely financial support to students in need highlights his dedication to helping them pursue their educational aspirations without financial burdens.

NELFUND has taken a significant step towards fulfilling its mission of supporting education and empowering the future leaders by approving the immediate disbursement of loans.

The fund’s management, headed by CEO Mr. Akintunde Sawyerr, and representatives from member organizations were also in attendance at the meeting where this decision was made.

The Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, was signed into law by Tinubu on April 3, 2024. The program registration began in May with the first batch consisting of 1.2 million students from federal tertiary institutions nationwide.