The Nigerian Educational Loan Fund (NELFUND) has said it would disburse the sum of ₦850m to tertiary institution students today (Wednesday).
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NELFUND: Tertiary Institution Students To Get ₦850m Loan Today
The Managing Director of the Fund, Akintunde Sawyer, made this known during a press briefing in Abuja on Wednesday.
According to Akintunde, this is apart from the over ₦1.7bn that has been disbursed to about 20,000 students.
“The sum of N850m will be leaving the account of NELFUND today to institutions. This is apart from the N1.7bn naira that has already been disbursed.”
Earlier, Sawyer revealed that the Fund had disbursed institutional fees to 20,000 students through their institutions.
He also noted that a total of 260,000 loans including institutional fees and upkeep have been approved.
No fewer than 1.2 million students are expected to benefit from this cardinal programme of President Bola Tinubu’s administration.
It would be recalled that President Bola Tinubu had approved ₦35bn for the take-off of the scheme after signing the law backing the scheme on April 3.
See Full Address By Sawyer Below:
ADDRESS BY MR AKINTUNDE SAWYERR, MANAGING DIRECTOR/CEO OF THE NIGERIAN EDUCATION LOAN FUND (NELFUND) ON WEDNESDAY, 31st JULY, 2024.
Protocols.
It is with immense pleasure and a deep sense of responsibility that I stand before you today to announce a significant milestone in our collective efforts to enhance the educational landscape of our great nation.
This occasion marks a testament to our shared commitment to ensuring that higher education is accessible to all deserving Nigerians, regardless of their financial background.
Firstly, I would like to acknowledge the presence of the Honourable Minister of State for Education, Dr Yusuf Sununu who is with us today on a one-day working visit.
Your presence, Honourable Minister, underscores the importance of this initiative and highlights the government’s unwavering support for the advancement of education in Nigeria. We are honored to have you here and grateful for your continuous advocacy and leadership in the educational sector.
I must also extend our Excellency, President Bola Ahmed Tinubu (GCFR). His visionary leadership and unwavering dedication to the advancement of education in Nigeria have driving forces behind this initiative.
Under his administration, we have seen a renewed focus on the empowerment of our youth through education, and today’s announcement is a direct result of his commitment to this cause.
Mr. President, your steadfast support and belief in the potential of Nigerian students have made this possible, and we are deeply grateful.
I am delighted to share that following Mr President’s directive, NELFUND has been able to disburse students’ institutional fees amounting to N1,172,388,340.00 for 20,000 students (100% paid) in esteemed institutions across the country.
These institutions were carefully selected based on their academic calendar. Disbursement to other institutions will be made at the beginning of their sessions to ensure a transparent and equitable distribution of resources.
Number of Beneficiaries
Within these institutions, a total of 11,083 students are the beneficiaries who applied for the loans and their tuition was paid 100 per cent.
This financial aid will enable them to focus on their studies without the added burden of financial worry. It is our belief that by investing in these students, we are investing in the future of Nigeria.
Upkeep/Stipend
In addition to the tuition charges, we are also cognizant of the need for upkeep support. The payment of upkeep stipends will be conducted in the coming week with the utmost transparency and security.
We are collaborating with several key agencies and institutions to ensure this. The Nigerian Financial Intelligence Unit (NFIU), the Department of State Services (DSS), the Economic and Financial Crimes Commission (EFCC), and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) will work alongside the various banks involved in this process.
Furthermore, We are excited to announce that we will be launching a series of new skills training programs in the coming weeks. These programs are designed to empower Nigerians with the knowledge and expertise needed to excel.
Ensuring Accountability
Our collective aim is to minimise any potential leakages and to prosecute any wrongdoing swiftly and effectively.
All parties in the value chain are committed to upholding the highest standards of integrity and accountability. By doing so, we aim to build and maintain the trust of all stakeholders involved in this initiative.
Acknowledgment of Partners
We cannot overlook the critical roles played by our various partners too numerous to mention in this initiative. Their collaboration has been instrumental in setting up a robust and transparent system for the disbursement and management of funds.
Additionally, the support from the institutions themselves has been invaluable in ensuring that the process is smooth and that the students receive their funds promptly.
Today’s announcement is a testament to President Tinubu’s unwavering dedication to the education sector and the future of our youth.
I extend my heartfelt gratitude to all our partners, institutions, and stakeholders for their invaluable support in making this vision a reality.
The Nigeria Democratic Congress, NDC, Vice Presidential candidate, Rabi’u Kwankwaso, has been accused of hijacking party structure in the North West
In a statement jointly signed by the party’s Northwest Vice Chairman Mohammed Rabiu Serina and Kano State Chairman Hussaini Isa Mariga respectively. the former Kano state governor was accused of excluding non-Kwankwasiyya members from contesting elective offices on its platform.
The duo who described themselves as pioneer members of the party, said they were appointed by the party’s National Leader, former Bayelsa State Governor Henry Seriake Dickson, before the party’s registration and later confirmed as substantive officers through congresses and the national convention.
Serina and Mariga further stated that they were instrumental in building the party’s structures across Kano State and the Northwest before Kwankwaso and his supporters joined the party.
“The problems began when Kwankwaso sought complete control of the party structure in Kano State during the state congresses.
“The dispute prompted the intervention of the party’s national leader, Seriake Dickson who convened a meeting and brokered an agreement granting Kwankwaso and his supporters 60 per cent control of the party structure in Kano, while the party retained 40 per cent,” the party officials said.
The Oyo State Government has demolished a house used as a hideout by the kidnappers of the sister of the immediate past Minister of Power, Adebayo Adelabu, and her twins.
The victims were abducted last Wednesday.
They were later rescued by the police on Saturday.
The state government on Monday moved the necessary equipment to the area to demolish the house.
The house is located at Lakoun Estate, Olomi-Olojuoro Road, in Oluyole Local Government Area.
The demolition was carried out by officials of the Oyo State Ministry of Public Works and Transportation, accompanied by operatives of the Nigeria Police Force.
The Lagos State Police Command has reassured residents, parents and school authorities that there is no verified intelligence suggesting any planned attack or abduction of schoolchildren by bandits in the state.
The assurance followed the circulation of a threatening notice allegedly pasted at a school, claiming that bandits intended to attack and abduct pupils.
However, to forestall any security breach, the Commissioner of Police, Lagos State Command, CP Tijani Fatai, has ordered the deployment of watertight security measures across the affected area and other strategic locations in the state, with police personnel and other security agencies mobilised to protect schools, critical infrastructure and communities.
Reacting to the development, the Police Public Relations Officer, SP Abimbola Adebisi, said the Command had assessed the situation and found no credible intelligence indicating any imminent threat.
According to her :”The Lagos State Police Command has seen reports of a threatening notice allegedly pasted at a school, claiming that bandits intend to attack and abduct school children. The Command wishes to reassure parents, guardians, school authorities and all residents that there is presently no verified intelligence indicating any imminent threat of such an attack within Lagos State.
“While every security concern is treated with the utmost seriousness, members of the public are advised to remain calm and avoid panic.
“The Commissioner of Police has directed an immediate assessment of the situation and strengthened security architecture around vulnerable and strategic locations across the state.
“The Command wishes to emphasise that Lagos State remains secure and that every lawful measure is being taken to prevent criminal elements from infiltrating or operating within the state,” she said.
“The Command will not tolerate any attempt by miscreants, bandits, kidnappers or other criminal elements to threaten the peace and safety of residents. Any individual or group found engaging in acts capable of causing fear, panic or insecurity will be decisively dealt with in accordance with the law”, she stated.
Adebisi urged residents to remain vigilant and continue to support security agencies with timely and credible information, noting that security remained a collective responsibility.
She also advised members of the public to promptly report suspicious persons, objects, movements or activities to the nearest police station or through the Command’s emergency lines.
“The public is once again assured that all hands are on deck to ensure the continued safety, security and well-being of every resident of Lagos State,” she added.
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