June 27, (THEWILL) – The Nigerian Education Loan Fund (NELFUND) has approved the immediate disbursement of federal government-backed student loan to successful applicants.
A statement signed on Thursday, by Head, Media and Public Relations of NELFUND, Nasir Ayitogo, said the disbursement was approved at the inaugural board meeting of the Fund in Abuja on Wednesday.
“Under the leadership of the Board Chairman, Mr. Jim Ovia, top in agenda was the approval for disbursement of student loan to successful applicants.
“This decision underscores President Bola Ahmed Tinubu’s dedication to providing timely and essential financial assistance to students in need, enabling them to pursue their educational goals without undue financial stress.
“By approving the immediate disbursement of the loans, NELFUND is taking a critical step in fulfilling its mission to support education and empower the next generation of leaders,” NELFUND said.
The inaugural meeting also set the stage for future initiatives, aimed at enhancing educational opportunities and providing comprehensive support to students across various disciplines.
Also present at the meeting were the management of the Fund, led by the Managing Director/CEO, Akintunde Sawyerr and representatives of member organisations.
President Bola Tinubu had on April 3, 2024, signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law.
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