Npower News Today Wednesday 26th June 2024

According to Npower News today Wednesday 26th June 2024, President Bola Ahmed Tinubu made an important decision to lift the suspension on the Conditional Cash Transfer (CCT) program. This announcement, made during President Bola Ahmed Tinubu's one year in office address, depicts the federal government’s ongoing dedication to providing financial support and assistance to poor and vulnerable households through the Conditional Cash Transfer (CCT) Programme. The NASSPS-SU Stepdown Training Orientation is currently taking place in various states across the federation. This training aims to educate desk officers, enumerators and enrollment officers on the new changes in the Conditional Cash Transfer Programme, making sure that the Conditional Cash Transfer Programme meets its set objectives of providing financial support to the poor and vulnerable to cushion the effect of inflation on these individuals.

Despite the resumption of the Conditional Cash Transfer (CCT) Programme, President Bola Ahmed Tinubu did not provide any update with respect to Npower program. As the moment, Npower remains suspended.

According to Npower News, beneficiaries of Npower batch c should kindly note that  Npower payment can still be made despite the fact that Npower is still suspended. These Npower payments are considered debts owed to beneficiaries of Npower batch c, and it is up to the NASIMS to decide when to pay beneficiaries of Npower batch c.

In conclusion the final decision with respect to the continuation of Npower rest solely on President Bola Ahmed Tinubu. Until President Bola Ahmed Tinubu makes a decision on the lifting of the suspension of Npower, Npower will remain suspended.

Source: https://goldennewsng.com/latest-npower-news-for-june-2024-backlog-payments-and-program-updates/

Modify Student Loan Repayment Plan - Dr Joseph Effiong

Ahead of the takeoff of the student loan scheme recently signed into law by the President of Nigeria, Bola Ahmed Tinubu, the Managing Director of UpdateAfrika Communications, Dr Joseph Effiong, has called for an improved student loan repayment schedule in such a way that enables a win-win situation for both the borrower and lender.

Dr Joseph Effiong revealed this in a recent statement made available.

Dr Joseph Effiong proposed an income-based student loan repayment plan that is not tied to a fixed amount, to be spread over an extended period.

This is as the Federal Government’s amended Act on the student loan pegged student loan repayment to two years post National Youth Service (NYSC) and a 10% direct deduction from the students loans beneficiaries’ salaries.

Dr Joseph Effiong was speaking amid concerns about the economic effects of the government’s decision on student loan repayment modalities, which he too submitted may be counterproductive to the economy in the long run.

Dr Joseph Effiong feared that with the height of unemployment information, reportedly increasing every month, the government’s modalities may be unrealistic, hence, the need for prompt adjustment.

Moreover, Dr Joseph Effiong emphasized the urgency to address the root causes of unemployment among youths to avoid running into bankruptcy with the student loan, advising the present administration to learn from the United States of America, which is presently battling a debt crisis as a result.

“Both government and educational institutions alike need to focus on enhancing job-relevant skills, internships, and career guidance to better prepare graduates for the job market.

“Additionally, the authority needs to explore partnerships with private firms to help facilitate finance for graduates seeking entrepreneurship routes. More so, there is a need to drive policies that will enable mass jobs in both private and public sectors”, Dr Joseph Effiong said.

Dr Joseph Effiong maintained that the government will need to closely and routinely monitor the student loan's performance with its manager for accountability and adjustment if need be.

Recall that NELFUND on 24th May 2024 launched the student loan portal for registration of the batch of student loan beneficiaries.

The government said that 1,200,000 federal higher students will benefit from the first phase of the student loan.

NELFUND on Tuesday shifted the June 25, 2024 start date of the student loan second phase of the student loan scheme for two weeks which will include students from state-owned universities.

Source: https://dailypost.ng/2024/06/25/student-loan-modify-repayment-plan-effiong-to-nigerian-govt/

NIN Issue On Student Loan Portal To Be Resolved Soon

NELFUND has assured student loan applicants experiencing NIN issues on the student loan portal, that this issue has to do with linking of NIN with jamb and will be resolved soon, see statement below:

Dear Student Loan Applicants,

As a result of some upgrades in the security for National Identification Number (NIN), the ability to access NIN is temporarily restricted on the student loan portal.

What this implies is that for students who do not have NIN linked to the JAMB registration number, the student loan applicant might experience challenges when applying for the student loan.

For students applying for the student loan with their NIN already linked to their JAMB registration number, the student loan application process continues without challenges and so the so the student loan application process is not affected.

NELFUND have been advised that this issue will be resolved soon so that affected students can apply for the student loan without hitches. NELFUND will advise student loan applicants affected once this issue is rectified.

Best Regards

The Nigerian Education Loan Fund (NELFUND) Restricts National Identification Number (NIN) Access For Some Applicants Registering For Student Loan

The Nigerian Education Loan Fund (NELFUND) has announced a temporary restriction on the use of the National Identification Number (NIN) for some student loan applicants.

The decision was revealed on the NELFUND'S official X handle on Tuesday, June 25th 2024.

The Nigerian Education Loan Fund (NELFUND) stated, “Dear Student Applicants, due to recent upgrades in the security system for the National Identification Number (NIN), access to NIN services is temporarily restricted.”

The post highlighted that this has caused significant difficulties for students applying for student loan, especially those whose NINs were not linked to their Joint Admissions and Matriculation Board (JAMB) registration.

NELFUND assured applicants that they would provide updates once the issue is resolved, concluding that, “We will advise once it is done. Thank you for your patience and understanding.”

Source: https://leadership.ng/nelfund-restricts-nin-access-for-student-loan-applicants/

President Bola Ahmed Tinubu's Student Loan Initiative, Was My Idea - Omoyele Sowore

The 2023 presidential candidate of the African Action Congress, AAC, Omoyele Sowore, has disclosed that the student loan initiative started  by the administration of President Bola Ahmed Tinubu was his idea.

Omoyele Sowore stated this in an interview with Seun Okinbaloye on the latest episode of his Podcast.

Omoyele Sowore noted that some of his ideas were being stolen by the political class, which left people with no ideas in power and people with ideas relegated to the sidelines.

“This student loan that they’re doing, we didn’t promise student loans, we promised grants. ₦100,000 was what we proposed per semester to Nigerian students, and people said it was impossible.

When they, Tinubu government, took the idea, someone turned it into a loan.”

The human rights activist Omoyele Sowore noted that the government of President Bola Ahmed Tinubu copying their ideas was as a result from people not paying attention to candidates who had ideas and celebrating the ruling class.

Source: https://dailypost.ng/2024/06/25/tinubus-student-loan-coastal-highway-project-were-my-ideas-sowore/

Student Loan Application For State-Owned Institutions Postponed For Two Weeks - NELFUND

The Management of Nigerian Education Loan Fund (NELFUND) today, Tuesday June 25th, announced a two weeks postponement of the student loan application process for student loan for state-owned institutions due” to low data submissions,” a statement by NELFUND said in Abuja.

NELFUND said the decision was necessitated by the failure of several state-owned institutions to upload the required student information and fee information to the NELFUND Student Verification System.

“To date, only a limited number of state-owned institutions have successfully completed the data submission process. These include twenty state universities out of forty eight, twelve state colleges out of fifty four, and two state polytechnics out of forty nine.

“While we acknowledge the efforts of these institutions, the failure to submit data from the remaining state institutions poses significant challenges to ensuring a seamless and accurate verification process for student loan applicants.

“The application window, initially set to open on June 25, 2024, will now commence on July 10, 2024.”

NELFUND said the extension will provide additional time for state institutions to comply with the data submission requirements and ensure their students can benefit from the Federal Government student loan scheme.

To foster an efficient and error-free student loan application process, it is crucial that all state institutions provide complete and accurate information.

This includes JAMB numbers, matriculation numbers, admission numbers, full names, level, faculties, departments, duration of program, fees, and gender of all eligible students.

Incomplete or incorrect data submissions will result in student loan application delays and potential disqualification for affected students.

NELFUND urged all state institutions to speed up their data submission processes and ensure the accuracy of the data provided.

NELFUND further warned that state-owned institutions that fail to meet the revised deadline risk disadvantaging their students, who depend on these student loans to support their education.

Source: https://punchng.com/breaking-nelfund-postpones-student-loan-application-for-state-owned-institutions/?amp