The Nigerian Education Loan Fund (NELFUND) has given its approval for the disbursement of student loans to successful applicants.
Raye24reporters reported that NELFUND recently held its first board meeting, which was a significant milestone in its mission to provide financial assistance to students.
Led by its Chairman, Jim Ovia, the board authorized the immediate disbursement of student loans to those who have been approved.
This development was confirmed in a statement released by the agency via its official X account on Wednesday.
The press release, titled “NELFUND Holds Inaugural Board Meeting as Student Loan Disbursement Tops Agenda,” was signed by Nasir Ayitogo, the Head of Media and Public Relations.
The meeting on Wednesday, attended by the fund’s management and representatives from member organizations, also laid the foundation for future initiatives aimed at improving educational opportunities and supporting students in various fields of study.
The approval of these loans by NELFUND is a significant step towards empowering the next generation of leaders through education.
The statement read, “The Nigerian Education Loan Fund (NELFUND) on Wednesday, June 26, 2024 held the inaugural meeting of its board in Abuja.
“The meeting marked a significant milestone in the organisation’s commitment to empowering students through financial support.
“Under the leadership of the Board Chairman, Mr. Jim Ovia, top in agenda was the approval for disbursement of student loan to successful applicants.”
According to the statement, this phase aligns with President Bola Ahmed Tinubu’s dream of improving the quality of education and making it affordable for all.
“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.
“Also present at the meeting were the management of the fund led by the Managing Director/CEO, Mr Akintunde Sawyerr and representatives of member organisations,” it concluded.
Raye24reporters recalls that on April 3, 2024, President Tinubu officially made the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, official.
The program registration began in May, attracting 1.2 million students to federal higher education institutions nationwide – kicking off the initial group.
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