NELFUND authorizes student loan disbursements under Jim Ovia’s leadership; inaugural board meeting sets educational support agenda.
Eko Hot Blog reports that the Nigerian Education Loan Fund (NELFUND) has announced the approval for the distribution of student loans to successful applicants.
According to an online media platform, NELFUND recently convened its inaugural board meeting, marking a significant milestone in its mission to provide financial assistance to students.
Chaired by Jim Ovia, the board has authorized the immediate disbursement of student loans to approved applicants.
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This development was confirmed in a statement released by the agency through its official channels on Wednesday.
The press release, titled “NELFUND Holds Inaugural Board Meeting with Student Loan Disbursement as Key Agenda,” was issued by Nasir Ayitogo, Head of Media and Public Relations.
The meeting, attended by management and representatives from member organizations, laid the groundwork for future initiatives aimed at enhancing educational opportunities and supporting students across various disciplines.
NELFUND’s approval of these loans represents a crucial step towards empowering the next generation of leaders through education.
The statement noted, “NELFUND convened its inaugural board meeting on Wednesday, June 26, 2024, in Abuja, marking a significant milestone in its commitment to empowering students through financial support.
“Led by Board Chairman Mr. Jim Ovia, the meeting prioritized the approval for the disbursement of student loans to successful applicants.”
According to the statement, this initiative aligns with President Bola Ahmed Tinubu’s vision to enhance educational quality and accessibility for all.
“This decision underscores President Bola Ahmed Tinubu’s dedication to providing timely and essential financial assistance to students in need, enabling them to pursue their educational goals without undue financial stress.
“By approving the immediate disbursement of the loans, NELFUND is taking a critical step in fulfilling its mission to support education and empower the next generation of leaders.
“Also present at the meeting were the management of the fund led by the Managing Director/CEO, Mr Akintunde Sawyerr and representatives of member organisations,” it concluded.
This online media platform recalls that on April 3, 2024, President Tinubu officially made the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, official.
The program registration began in May, attracting 1.2 million students to federal higher education institutions nationwide – kicking off the initial group.
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“Members pledged their support for the Committee to ensure the successful implementation of these reforms and to collaborate closely to address any challenges that may arise.”
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