FG sets up students loan committee, to start disbursement September
The Federal Government has set up a students loan committee to facilitate the disbursement with effect from September this year.
Already, the committee has received the approval of President Bola Tinubu and will meet on June 20.
Permanent Secretary at the Federal Ministry of Education, David Adejo, announced the development on Wednesday while answering questions from journalists in Abuja.
The President on Monday signed the bill to give students access to interest-free loans.
Adejo said the initiative would provide easy access to higher education for indigent Nigerians through interest-free loans from the Nigerian Education Loan Fund.
The permanent secretary also said the bill is to make sure every Nigerian has access to higher education through “what we called the higher education Nigerian bank”.
“Learning from past mistakes, the bank is not going to be the type that will sit down and be collecting application loans,” he said.
“It will also perform normal banking functions and make sure loans are given because we had cases of loan recovery in the past.
“The act as it is tells us the process, but as I speak with you today, the president has approved the committee made up of the ministries and agencies and their meeting will be coming up on June 20.
“The President has also directed that by September to October of this 2023/2024 academic session, he wants to see recipients of these loans. So, it is a very serious march for us. So between now and then, we have to phantom the process for people to get the loan.”
Ex-IG Okiro: FG's Decision to Scrap Anti-Terror Squad Birthed Boko Haram Insurgency The former police…
Is Nigeria's Electricity Tariff Going Up? FG Finally Breaks Silence The Federal Government has moved…
ISWAP finance chief surrenders to Nigerian troops with two children in Borno A senior financial…
Al-Mustapha Fires Back: Ex-DSS Officer’s Account of Abacha’s Death Is a Lie, I Have CCTV…
Anthony Joshua stuns Kristian Prenga with dramatic knockout to revive career and set up Tyson…
INEC Chairman assures Nigerians every vote will count in 2027 general election Chairman of the…