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STUDENT LOAN: Tinubu approves new management team for NELFund

STUDENT LOAN: Tinubu approves new management team for NELFund

President Bola Tinubu has taken a significant step towards enhancing access to higher education and fostering critical skill development for Nigerian students by approving the appointment of a new management team for the National Education Loan Fund (NELFUND).

The appointees include Akintunde Sawyerr as Managing Director, Frederick Akinfala as Executive Director of Finance and Administration, and Mustapha Iyal as Executive Director of Operations. This move aligns with Tinubu’s commitment to securing Nigeria’s socio-economic future through sustainable higher education opportunities.

READ ALSO: Tinubu seeks to repeal, re-enact of Student Loan Bill

The appointments made by President Tinubu are aimed at ensuring that Nigerian students benefit greatly from the educational loan fund. The newly appointed management team is tasked with supervising NELFUND, which offers financial assistance in the form of loans to economically disadvantaged Nigerian students, enabling them to cover tuition fees at tertiary institutions across the country. This initiative is crucial in bridging the financial gap in higher education and empowering Nigerian youths to pursue their academic aspirations without undue financial burden.

President Tinubu’s approval of the management team comes shortly after he signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024. This legislative action underscores his dedication to providing quality and accessible education for all Nigerians. The Act allows for the establishment of NELFUND as a body corporate responsible for managing and investing funds to provide loans for higher education, vocational training, and skills acquisition.

READ ALSO: Why Tinubu keeps delaying student loans scheme in Nigeria – Presidency

With the appointment of Akintunde Sawyerr as Managing Director/CEO, Frederick Akinfala as Executive Director of Finance and Administration, and Mustapha Iyal as Executive Director of Operations, President Tinubu aims to expedite the operationalization of NELFUND. The President envisions NELFUND as a pivotal instrument in advancing educational opportunities for Nigerian students and families nationwide. By entrusting capable individuals with key leadership roles, Tinubu demonstrates his commitment to equipping Nigerian youths with essential resources for academic excellence.

Tinubu’s approval of a new management team for NELFUND signifies a significant milestone in his efforts to promote sustainable higher education and critical skill development in Nigeria. Through strategic appointments and legislative actions, Tinubu is paving the way for enhanced access to educational opportunities that will benefit Nigerian students and youth across the nation.

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