In its inaugural board meeting held on Wednesday, the Nigerian Education Loan Fund (NELFUND) has commenced the distribution of student loans to successful applicants.
Chaired by former Chief Executive Officer of Zenith Bank Plc, Mr. Jim Ovia, the meeting approved the immediate disbursement of student loans and discussed future initiatives aimed at enhancing educational opportunities and backing students across diverse disciplines.
NELFUND’s endorsement of the loans signifies a significant stride towards empowering the next generation of leaders through education.
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In response to the approval, NELFUND released a statement emphasizing President Bola Ahmed Tinubu’s commitment to providing timely and crucial financial aid to students in need, enabling them to pursue their educational aspirations without undue financial burden.
President Tinubu signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law on April 3, 2024.
The program registration commenced in May, attracting over a million students from federal tertiary institutions nationwide.
