The student loans programme is set to take off as the special committee responsible for the Nigerian Education Loan Fund (NELFUND) held its inaugural meeting in preparation for the rollout of the scheme next Monday, February 26, 2024.
Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso is the Chairman of the 11-member Special Committee representatives of the Ministries, Departments and Agencies as stipulated in the Students Loans Act while the Executive Secretary of NELFUND, Akintunde Sawyerr serves as its Secretary.
Cardoso was quoted at the meeting charging members of the committee to use their diverse experiences to ensure the success of the programme.
He said the programme was one of President Bola Tinubu administration’s important projects designed for the benefit of underprivileged Nigerians.
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The committee chairman added that, the ongoing engagement of various stakeholders would be intensified in order to achieve a hitch-free commencement of the scheme.
NELFUND was set up after the passage of the Access to Higher Education Act 2023 (Students Loan Act) was signed into law by President Tinubu on June 12, 2023.
It creates a legal framework to grant loans to indigent or low-income Nigerians to pay their tuition fees.
The Act is to also provide Nigerians with more accessibility to higher education.
President Tinubu has asked that the scheme be extended to cover Nigerians undergoing vocational training.
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