We disbursed N20,000 each to over 20,000 students in July - NELFUND – Newstrends
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We disbursed N20,000 each to over 20,000 students in July – NELFUND

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Managing Director of NELFUND, Akintunde Sawyerr

We disbursed N20,000 each to over 20,000 students in July – NELFUND

The Nigerian Education Loan Fund (NELFUND) has commenced the distribution of N20,000 monthly stipends to beneficiaries, with 20,371 students from six tertiary institutions successfully receiving their July payments.  

This announcement was made in a statement signed by Mr. Ibom Uche, Director of Finance and Accounts at NELFUND, and shared on NELFUND’s official X (formerly Twitter) handle on Monday. 

The stipends distribution follows NELFUND’s recent announcement of the ongoing disbursement of student loans, with a total allocation of N2.5 billion to various institutions nationwide.  

“The Management of the Nigerian Education Loan Fund (NELFUND) under the leadership of Mr Akintunde Sawyerr, the Managing Director has announced the successful disbursement of N20,000.00 monthly stipends for the month of July to 20,371 students from six tertiary institutions,” the statement read in part.  

The statement also noted that students who have begun receiving their July stipends are those whose institutional fees have already been covered by NELFUND. The six tertiary institutions where payments have started include Bayero University Kano, Federal University Dutsin-Ma, University of Ilorin, University of Benin, University of Ibadan, and University of Maiduguri. 

Furthermore, NELFUND is actively working to initiate the payment process for students from approximately 55 more tertiary institutions, the statement noted. This process is expected to be completed within the next two weeks, as the fund is dedicated to ensuring that all eligible students receive their stipends promptly. 

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The revised Student Loan Act 2024 stipulates the establishment of the Nigerian Education Loan Fund (NELFUND) to remove financial barriers and make education accessible to all Nigerian students, regardless of their economic background.  

NELFUND is primarily funded by 1% of the revenues from taxes, levies, and duties collected by the Federal Inland Revenue Service, Nigerian Immigration Service, and Nigerian Customs Service. Additional funding comes from natural resource profits, education bonds, endowment funds, and donations.  

The loans cover tuition, fees, and maintenance costs, with repayment starting two years after completing the National Youth Service Corps (NYSC) program. 

On July 7, 2024, NELFUND announced the approval of 36 state-owned universities for student loan applications. This was followed by the approval of an additional 12 state-owned tertiary institutions on July 10. 

On August 2, 2024, NELFUND announced the disbursement of N2.5 billion in student loans to benefit 22,120 eligible students across various institutions. Additionally, N442 million has been allocated for students’ upkeep funds for July. 

In his speech on July 4, President Bola Tinubu announced the release of N50 billion to NELFUND from proceeds recovered by the Economic and Financial Crimes Commission (EFCC). 

We disbursed N20,000 each to over 20,000 students in July – NELFUND

Education

BREAKING: NECO releases 2024 SSCE results

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BREAKING: NECO releases 2024 SSCE results

The National Examinations Council (NECO) has officially released the results of the June/July 2024 Senior School Certificate Examination (SSCE), with an impressive 60.55 percent of candidates achieving five credits and above in key subjects, including English Language and Mathematics.

NECO’s Registrar, Professor Dantani Ibrahim Wushishi, announced the results during a press briefing at the NECO headquarters in Minna, Niger State, on Thursday.

Prof. Wushishi revealed that a total of 1,376,423 candidates registered for the exam, comprising 706,950 males and 669,473 females. This significant number highlights the broad participation of students across the country, showcasing a balanced gender representation.

The release of these results will have a major impact on students’ academic progression, as securing five credits, particularly in English and Mathematics, is crucial for gaining admission into tertiary institutions in Nigeria.

The NECO boss gave a further breakdown of the results as : “Number of candidates that sat is 1,367,736 representing 702,112 Males and 665,624 females.

“Number of candidates with five Credits and above, including English and Mathematics is 828,284, representing 60.55%.

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“Number of candidates with five credits and above, irrespective of English and Mathematics is 1,147,597, representing 83.90%”

On the number of examination malpractice, Wushishi said this year’s figure witnessed a great reduction when compared to last year.

He said: “Number of candidates involved in various forms of malpractice in 2024 is 8,437 as against 12,030 in 2023, which shows a reduction of 30. 1%.”

The registrar, however, revealed that 40 schools were found to be involved in mass cheating during the examination.

“During the conduct of the 2024 Senior School Certificate Examination (SSCE), 40 schools were found to have been involved in whole school (mass) cheating in 17 states. They will be invited to the Council for discussion, after which appropriate sanctions will be applied. One school in Ekiti was recommended for de-recognition for mass cheating in two core subjects and 01 Science subject.

“Similarly, 21 Supervisors were recommended for blacklisting due to poor supervision, aiding and abetting, abscondment, extortion, drunkenness and negligence, in 12 states.”

He urged candidates that sat for the examination to visit NECO website to access their results.

“At this juncture, I wish to formally declare that the 2024 Senior School Certificate Examination (SSCE) Internal are hereby released to the public. By this release, candidates can now access their results on NECO website :www.neco.gov.ng using their examination registration number,” Wushishi said.

BREAKING: NECO releases 2024 SSCE results

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Fresh strike looms in varsities, SSANU, NASU, issue 3-week ultimatum

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Fresh strike looms in varsities, SSANU, NASU, issue 3-week ultimatum

The Joint Action Committee of the Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Educational and Associated Institutions (NASU) has threatened to embark on an indefinite strike if their outstanding salaries are not paid within the next three weeks.

The unions are demanding the payment of four months’ withheld salaries, improved remuneration, earned allowances, and the implementation of the 2009 agreements with the government.

The federal government had previously invoked the “No Work, No Pay” policy during a prolonged strike by four university-based unions in 2022.

In a statement signed by SSANU President Mohammed Ibrahim and NASU General Secretary Prince Peters Adeyemi, the unions revealed that the government was initially given a 10-day grace period, which expired on July 26, 2024, to pay the outstanding salaries. Despite this, six weeks have passed without any resolution.

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“The government is hereby given a final three-week ultimatum, starting from Tuesday, September 17, 2024, to pay the four months’ withheld salaries and implement the agreement reached on August 20, 2022.

“Should the government fail to meet these demands, our members may be forced to embark on indefinite strike action at the expiration of the ultimatum,” Ibrahim said.

The statement further noted that, during the National Minimum Wage meeting, President Bola Tinubu had approved the payment of the withheld salaries on July 18, 2024, following discussions with the leadership of the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC).

“We have recently been informed that the President has approved the actual release of the payment. However, despite these approvals, nothing has been forthcoming,” the statement said.

Fresh strike looms in varsities, SSANU, NASU, issue 3-week ultimatum

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FG to unbundle unity colleges into basic, secondary schools

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FG to unbundle unity colleges into basic, secondary schools

The Federal Government has announced its plans to unbundle the 115 Federal Unity Colleges in the country into basic and secondary schools.

Minister of State for Education, Dr Yusuf Sununu, disclosed this during the opening of the Annual General Meeting of Principals of Unity Colleges in Abuja on Tuesday.
The theme of the event is ‘Entrepreneurship Education: A Panacea for Self-Reliance and National Development’.
Sununu said that the plan to unbundle the unity colleges was in line with the National Policy on Education (NPE).
The minister said the unbundling of Unity Colleges would among other things attract more funding to improve infrastructure, address teachers’ welfare and create employment opportunities, among others.
He added that the ministry, with the support from relevant agencies of government, would ensure it was achieved in the shortest time possible.

“I want to emphasise the significance of fostering an entrepreneurial spirit in our youths, a spirit that will propel them toward self-reliance and contribute meaningfully to our nation’s development.
“Unemployment remains a pressing concern, and it is our collective responsibility to equip our students with the skills and mindset necessary to succeed.
“Entrepreneurship education offers a solution to this challenge as it prepares students to think creatively, innovatively, and develop the confidence to take calculated risks,” he said.
Sununu called for the collaboration of the principals as critical stakeholders to improve the educational landscape of the schools.
He further urged them to curb social vices, instil the maintenance culture on the students and co-operate with their host communities for the overall security and growth of the Colleges.

Also, the Chairperson, Principals of Federal Unity Schools Colleges, Dr Idowu Akinbamijo, said the meeting was to set the agenda for the coming year and build capacity for the task ahead.

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