You Do Not Need To Know Anyone To Get The Student Loan

The management of Nigerian Education Loan Fund (NELFUND), has reassured the public that every eligible Nigerian student will have access to the interest-free student loan and that no “godfather” is required.

The Executive Director, Finance and Administration, NELFUND, Dr. Fred Femi Akinfala, in a write-up, stated that the management of the Nigerian Education Loan Fund (NELFUND), is dedicated to creating an open, fair, and transparent student loan application process.

Dr. Fred Femi Akinfala said he was convinced that by the time President Bola Ahmed Tinubu would be completing his entire constitutionally allowable tenures in 2031, the students’ loan initiative, being managed by the Nigerian Education Loan Fund, (NELFUND), would be among his best-celebrated achievements.

According to Dr. Fred Femi Akinfala, the student loan initiative will be recorded as the most revolutionary policy regarding tertiary education in Nigeria.

“This is because the initiative, among other benefits, would help Nigerian students create a safe pathway from financial obstacles to attaining their educational pursuits.

“The result will be that student retention and completion rates will increase, and so will the number of skilled talents in the economy.

“It is for this reason, and in line with President Tinubu’s Renewed Hope agenda, that the management of NELFUND is committed to creating an open, fair, and transparent application process. The openness in the scheme’s administration means students can easily apply online, submit, and track a loan request through the same process, which means that there is nothing anyone, including officials of NELFUND, can do to manipulate the process for self-advantage,” Dr. Fred Femi Akinfala stated.

Dr. Fred Femi Akinfala added that already the Nigerian Education Loan Fund, (NELFUND), has gathered current students’ information, consisting of the federal universities, polytechnics, colleges of education and technical colleges in Nigeria. The exact process applies to the state-owned tertiary institutions which will start on June 28.

Dr. Fred Femi Akinfala said: “It must be stressed at this point that every eligible student is equal, and no one needs to have a ‘godfather’ or unique connections in society to access the loan.

“Instead, what is essential is for an applicant to meet the laid-down criteria. These are ensuring, as an applicant, that you are enrolled in a Federal or State tertiary institution, and possess a letter of admission from the statutory Joint Admission and Matriculation Board, a Biometric Verification Number (BVN) and a National Identification Number (NIN).

“The simplification of the loan process and its accessibility to the public are to clear ambiguity or a perception of bias in selecting successful applications.

“As a fact, it is not for nothing that the NELFUND’s management has taken steps to foster public trust, inclusion, and sustainable reputational capital. It is also worth noting that the agency has instituted solid corporate governance, supported and overseen by its equally dedicated governing board led by respected banker and Zenith Bank Plc founder, Mr Jim Ovia.

“In the same vein, the management, led by its managing director, Mr Akintunde Sawyerr, has declared zero tolerance for corruption and corrupt practices within and outside the agency.

“For Sawyerr, pilfering funds meant to empower students is egregious and an unpardonable sin. He once related an intriguing story to me about some burglars in the United Kingdom who seemed to make it a rule among them not to take anything belonging to children.”

Source: https://tribuneonlineng.com/no-godfather-needed-for-student-loan-nelfund/

Only 1,000,000 Applicants Will Get The Federal Government Grant

The Federal Government of Nigeria through the Ministry of Industry, Trade and Investment, said that only 1,000,000 out of 3,600,000 applicants will be beneficiaries of the federal government grant.

The federal government grant, which started March 9, 2024, offers financial grants of ₦50,000 without repayment to eligible nano micro small and medium enterprises operating in various sectors such as trading, food services, Information and Communications Technology, transportation, creatives, and artisans in the seven hundred and seventy four local government areas in Nigeria.

The federal government grant targeted 70% of women and youths, 10% of people with disabilities, and 5% of senior citizens, with the remaining 15% apportioned to other demographics.

The Ministry of Industry, Trade and Investment, in a Frequently Asked Questions and Answers said, “Disbursements aren’t based on any specific criteria, but in the order, applications are verified. The goal is to reach an estimated 1,290 beneficiaries per LGA across the country, totalling one million.

“Disbursement is also subject to verification of NIN, which became mandatory after the initial application phase and required only BVN. The selection is random, without human intervention, from those who have passed their NIN and BVN verification.”

Meanwhile,  the Ministry of Industry, Trade and Investment also noted that there was not any interference in the processes because the verification was a digital one so individuals that applied for the federal government grant would not need to be contacted after verification, but the federal government grant disbursements will happen automatically if applicants passed.

Whether everyone who applied for the federal government grant will get the federal government grant, the Ministry of Industry, Trade and Investment stated, “No, of over 3.6 million applicants, only one million will receive the grant. This is the threshold based on the amount budgeted for nano businesses. The verification process for over three million applications has been thorough and therefore time-consuming, conducted in batches to minimize errors.”

The federal government grant only benefits people with nano businesses seeking to expand and be willing to formally register their businesses and hire at least one additional person as their turnover increases.

The requirements for the federal government grant included personal and banking information such as BVN and NIN.

The application for the federal government grant has closed since April 17, although some other federal government grant initiatives are still ongoing like the fgn alat etc. Disbursement of the federal government grant is ongoing until 1,000,000 beneficiaries have received their federal government grant.

Source: https://punchng.com/only-1m-of-3-6m-applicants-will-get-n50000-grant-fg/

How To Register For The Conditional Cash Transfer

The conditional cash transfer is a federal government scheme established to reduce the effect of economic hardship towards the poor and vulnerable households and groups in Nigeria, the Conditional Cash Transfer Programme was  commissioned by President Bola Ahmed Tinubu on the International Day for the Eradication of Poverty.

The conditional cash transfer program, budget is  within ₦1,125,000,000, and will help approximately 62,000,000 poor and vulnerable households, beneficiaries of the Conditional Cash Transfer will be entitled to a cash transfer of  ₦75,000 which is an accumulation of ₦25,000 payable in three months. The conditional cash transfer (CCT) was targeted to assist 15,000,000 poor and vulnerable  households with the sum of ₦25,000 for three months which will total ₦75,000 as said earlier.

How To Register For The Conditional Cash Transfer 

The following below are processes on how to apply or register for the conditional cash transfer programme:

1) The process of registering or applying for the conditional cash transfer is done through enumerators, who are appointed by the Federal Government. Every local government area/ward has at least one enumerator who registers people for the Conditional Cash Transfer programme and the conditional cash transfer is not available online.

2) The Conditional Cash Transfer details obtained from the applicant will be processed through these enumerators, who are appointed by the Federal Government. Every area/ward has at least one enumerator who registers people for the conditional cash transfer programme.

Applicants for the conditional cash transfer programme should simply find their local government area enumerator to register for them.

Members of the public should disregard fake conditional cash transfer registration portals and forms circulating online, claiming to be for potential beneficiaries of the conditional cash transfer programme. Applicants for the conditional cash transfer programme should not share their sensitive information through text messages with individuals claiming to work for the conditional cash transfer office.

Note: There is no link to apply for the conditional cash transfer programme online.

Student Loan Disbursement Has Not Started Yet Successful Applicants Will Get Approval In Three Weeks

The over one hundred thousand students that have successfully applied for the student loans under the Nigerian Education Loan Fund, (NELFUND), will have to wait for about 3 weeks to get approvals for their student loans, it was gathered.

Also, no student loan has been disbursed as of now.

The spokesman of the Nigerian Education Loan Fund, (NELFUND), Mr Nasir Ayiyogo, said the student loan application process has been going on smoothly.

“The applications are still ongoing smoothly. No loan has been disbursed yet. Applicants will start getting approvals for their loans in less than three weeks.

“The amount will be determined by charges of each institution and NELFUND will cover 100 percent of it, ” Mr Nasir Ayiyogo said. Earlier, the Managing Director of the Nigerian Education Loan Fund, (NELFUND), Mr Akintunde Sawyerr, while giving an update on the student loan scheme, said those whose applications were successful would undergo approval evaluation.

“Sixty thousand are those who have registered on the platform. About 30,000 have successfully applied for the loan but that does not mean the 30,000 have been approved. Up until this point, nobody has been given the loan. Now is the time for evaluation.

“The overwhelming response serves as a testament to the critical need for financial assistance among our student population, and we remain committed to addressing this urgent demand,” Mr Akintunde Sawyerr said

Mr Akintunde Sawyerr said the Nigerian Education Loan Fund, (NELFUND) would work with security agencies to ensure that students do not abuse the student loan programme, hinting that those with criminal intentions would be fished out by the security agencies.

The student loan applications so far taken were only from students in federal tertiary institutions, as their colleagues in state-owned institutions will start to apply from the 25th of this month, according to Mr Akintunde Sawyerr. Students in private institutions are exempted from the student loan scheme, at least for now.

However, the rush to apply for the student loan has been described as a reflection of the state of the nation’s economy by parents who also faulted the refusal of the government to get their input before launching the student loan scheme.

Speaking on the development, the National President, National Parent Teacher Association of Nigeria, NAPTAN, Alhaji Haruna Danjuma, said, “The rush to apply for the loan is an indication of the poor state of the economy.

Also, it may show desperation on the part of some applicants. Many parents are finding it difficult to pay the tuition fees of their wards. Many parents have lost their jobs and many are under-employed.

” Some students are even the ones sponsoring their studies. My advice to the applicants, when they are given the loan is that they must use it judiciously. Those that are into petty trading or businesses from which they earn some money, should continue and not relax. The cost of living keeps increasing daily and there is no amount that an average parent can give that is going to be enough to keep the students going.

“However, as parents, we are still surprised that the government did not find us as critical stakeholders in the sector and seek our views and contributions before the bill was passed into law. If there is any issue with any student regarding the loan, won’t they contact the parents? It is late now to seek our view, they have started it already.”

Meanwhile, the Nigerian Education Loan Fund, (NELFUND) will soon start a comprehensive skills acquisition scheme in various vocational and technical fields.

The start of the skills acquisition programme has been slated for the last quarter of the year.

Initially, the scheme was not designed to include supporting artisans, but President Bola Ahmed Tinubu ordered their inclusion to equip youths with practical market-relevant skills.

Source: https://www.vanguardngr.com/2024/06/student-loan-not-disbursed-yet-successful-applicants-to-get-approvals-in-3-weeks-says-nelfund/

Npower News Today Wednesday 12th June 2024

According to Npower News, an Npower batch c stream 2 beneficiary has taken to Npower Facebook to post that he received Npower payment few minutes ago (see image below) please this report is not true as Npower payment has not started. 

Npower payment to beneficiaries of Npower batch c will start when the suspension of Npower is lifted, at the moment only the conditional cash transfer program as a component of the National Social Investment Programme has been reactivated, beneficiaries of Npower are implored to ignore any news saying that Npower payment has started, Npower payment to Npower batch c beneficiaries has not started yet. When the suspension of Npower is lifted it will be published publicly on all verified Facebook and Twitter handle and across all media houses.

Npower News: Conditional Cash Transfer Disbursement

According to Npower News, a beneficiary of the Conditional Cash Transfer claimed to have received the ₦25,000 conditional cash transfer stipend today this morning. Although the conditional cash transfer programme is yet to start fully in some states in Nigeria and the training of desk officers and enrollment officers is still ongoing, beneficiaries have expressed deep concern over this claim by the recipient of the Conditional Cash Transfer (CCT).

The conditional cash transfer program was reactivated few weeks ago by President Bola Ahmed Tinubu and started with the training of desk officers in some states across the Federation. Prospective applicants can apply for the conditional cash transfer programme by visiting their state cash transfer office for more information regarding registration and enrollment. The conditional cash transfer application will not be done online. 

Appoint A Woman To Head Ministry for Humanitarian Affairs and Poverty Alleviation Group Begs President Bola Ahmed Tinubu

Persons Living with Disabilities (PWDs), in partnership with Association of Widows in Nigeria (AWN) have urged President Bola Ahmed Tinubu to appoint a woman as the minister for humanitarian affairs and poverty alleviation.

Speaking at a democracy day press briefing in Abuja, the chairman Northern Youth Disabilities Forum, Mohammed Musa Zaria begged President Bola Ahmed Tinubu to look in the direction of women with credible humanitarian activities like Halimat Adenike Tejuosho to head the ministry for humanitarian and poverty alleviation since she already has a well known track record.

Mohammed Musa Zaria said Halimat Adenike Tejuosho has impacted a lot on the lives of the people and used her resources to cater for the less privileged, persons with disabilities, internally displaced persons, the poor and vulnerable households and widows.

Mohammed Musa Zaria said that the appointment should go to the person with unwavering commitment and support to the community of Persons Living with Disabilities (PWDs), and less privileged in Nigeria.

Mohammed Musa Zaria said that the minister for humanitarian affairs and poverty alleviation must have leading efforts aimed at alleviating poverty and addressing the needs of vulnerable populations across the country.

Mohammed Musa Zaria stressed that the community request is unprecedented, underscoring the critical importance of having a leader who understands and prioritizes the challenges faced by Persons Living with Disabilities (PWDs), and marginalized groups.

Mohammed Musa Zaria noted that the appointment would strengthen the government’s commitment to ensuring equal opportunities and support for all members of society.

The group also appreciated President Bola Ahmed Tinubu for standing with the Persons Living with Disabilities (PWDs) in all their activities before the election and even after their elections.

Speaking on Nigeria democracy day, the group appreciated the federal government for recognisning June 12, as democracy day, and praised MKO Abiola for his contribution to democracy.

Source: https://leadership.ng/appoint-woman-to-head-humanitarian-ministry-group-urge-tinubu/