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Tag: NELFUND

NELFUND Applauds Dangote Foundation’s N100bn Annual Education Scholarship Programme

Fola Badmus03 mins

The Nigerian Education Loan Fund (NELFUND) has commended the Aliko Dangote Foundation for launching a landmark N100 billion annual scholarship programme designed to support more than 1.3 million Nigerian students in public secondary and tertiary institutions over the next decade. The initiative was unveiled in Lagos, with Vice President Kashim Shettima representing President Bola Ahmed Tinubu. NELFUND described the programme as a significant private-sector intervention that complements the Federal Government’s Renewed Hope Agenda and ongoing efforts to expand access to quality education nationwide. Managing Director and Chief Executive Officer of NELFUND, Mr Akintunde Sawyerr, praised the Dangote Foundation for its visionary leadership and alignment with national education reform objectives. He noted that the scholarship scheme, which includes a strong focus on Science, Technology, Engineering and Mathematics (STEM), will help ease financial pressures on students while contributing to the development of a skilled, future-ready workforce. “On behalf of NELFUND, we commend President Bola Ahmed Tinubu for promoting collaborative approaches that strengthen Nigeria’s education sector,” Sawyerr said. “This landmark initiative will significantly boost national education financing and ensure that no Nigerian is denied access to education due to financial limitations.” NELFUND also expressed its readiness to collaborate with the Dangote Foundation and other stakeholders to guarantee transparency, efficiency and maximum impact in the implementation of the scholarship programme. The Fund emphasised the importance of strong partnerships between government, the private sector and development partners in building a sustainable and inclusive education system, in line with President Tinubu’s call for shared responsibility in national development. NELFUND congratulated the Dangote Foundation once again and expressed confidence that the initiative will have a lasting positive impact on Nigeria’s education sector.

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NELFUND Deepens Grassroots Engagement in Ogun State, Partners Senator Gbenga Daniel to Expand Student Loan Awareness

Fola Badmus03 mins

The Nigerian Education Loans Fund (NELFUND) has intensified its grassroots sensitisation efforts in Ogun State, partnering with Senator Gbenga Daniel to broaden awareness of the federal government’s student loan programme across Ogun East Senatorial District. The engagement, held in Ijebu North Local Government Area, formed part of Senator Daniel’s Mid-Term Community Assessment and Review Tour and drew community leaders, youth associations, parents, and prospective student beneficiaries. Speaking at the event on Sunday, NELFUND Managing Director/Chief Executive, Mr. Akintunde Sawyerr, said the initiative aligns with the agency’s ongoing efforts to strengthen partnerships across all levels of governance and community structures nationwide. According to him, the session “forms part of our broader commitment to strengthen partnerships across federal, state and community structures,” adding that it ensures “NELFUND’s mandate is well understood, properly aligned, and effectively delivered to the beneficiaries we serve.” Sawyerr explained that discussions during the engagement “reinforced the centrality of our mission and the critical role NELFUND plays in expanding access to tertiary education financing nationwide.” Reaffirming the agency’s nationwide reach, he stressed:“NELFUND remains firmly committed to taking its mandate to every community, ensuring that every eligible Nigerian who needs this loan can access it without barriers. Our goal is simple: no Nigerian student should be left behind.” The NELFUND delegation included: Mr. Akintunde Sawyerr, Managing Director/Chief Executive Dr. Fred Femi Akinfala, Executive Director, Finance and Administration Mr. Sola Fowobaje, Director of SERVICOM Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications Mr. Yomi Gbadamosi, PA to the MD/CE Mr. Festus Adefehinti, PA to the EDFA

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Tertiary Institutions Shortchanging Students with Student Loans

Fola Badmus03 mins

Recent investigations into the disbursement of the Federal Government Student Loan Fund have uncovered several unethical practices by some institutions of higher learning. According to the latest report by the Community Orientation and Mobilisation Officers (COMO), of the National Orientation Agency (NOA), schools and banks are conspiring to short-change the students. Mallam Lanre Issa-Onilu, the Director General of the NOA, announced the findings after meeting with NELFUND Managing Director, Mr. Akintunde Sawyerr, over the weekend. Initial reports indicated that certain university officials have been withholding vital information regarding loan disbursements, prompting immediate action from NELFUND. The NOA’s feedback shows how specific institutions have, in connivance with some banks, deliberately delayed payments to successful student applicants for personal financial benefit. Some universities fail to acknowledge the NELFUND’s disbursements to the students. Mr. Akintunde Sawyerr confirmed that some institutions are failing to inform students about loan disbursements made in their name while still requiring them to pay tuition fees. He stated, “Recent findings by NELFUND have shown that some institutions have received student loan disbursements directly into their accounts yet neglect to inform the affected students or record the payments in their financial records, leading to unnecessary confusion. “Withholding critical financial information from students is not only unethical but also a breach of the principles on which NELFUND was founded. We are prepared to take legal action against any institution engaged in such deceptive practices.” In response, Mallam Issa-Onilu has issued a strong warning to these institutions and collaborating banks to cease such activities. NOA has directed its state directorates to provide further feedback from students across the country to ensure that the Federal Government takes appropriate actions against erring schools and banks.

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