Students at tertiary schools who have successfully qualified for the Federal Government’s loan plan and are starting new academic sessions will begin receiving credit alerts next week, according to NELFUND.
“The people who will receive alerts as early as next week are those who are about to begin a new session in the institution,” NELFUND Managing Director Akintunde Sawyerr told Channels Television’s Politics Today on Wednesday.
He stated that other successful applicants will not begin receiving credit notices until the start of academic sessions at their respective institutions.
Sawyerr’s statement came hours after President Bola Tinubu unveiled the Nigerian Education Loan Fund (NELFUND) at the State House in Abuja.
He stated that 170,000 applicants from universities, polytechnics, and schools of education now have NELFUND accounts, but only 110,000 have completed the application procedure.
The NELFUND CEO stated that there are two sorts of beneficiaries: institutions that will be paid on behalf of people who have successfully applied to those institutions, and applicants – the students themselves – who would get a monthly stipend.
“A formal launch of the disbursement circle played out at the State House on Wednesday,” stated the official.
Sawyerr stated that the programme aims to provide Nigeria with “better leadership in the future and improve the country’s socioeconomic situation.”
“To be precise, about 110,000 students have successfully applied. They’ve put in their applications and verified as being bona fide and eligible applicants. But we’ll still carry out further verification to make sure they are well-qualified to receive these loans. But over 110,000 are likely to begin to receive disbursement from next week,” he said.
The NELFUND CEO stated that there are two sorts of beneficiaries: institutions that will be paid on behalf of people who have successfully applied to those institutions, and applicants – the students themselves – who would get a monthly stipend.
“A formal launch of the disbursement circle played out at the State House on Wednesday,” stated the official.
Sawyerr stated that the programme aims to provide Nigeria with “better leadership in the future and improve the country’s socioeconomic situation.”
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