According to Npower News, the National Chairman comrade Muhammad Habibu Abubakar and the National Vice Chairman Idris Sani have written a letter to former Vice President of Nigeria, Alhaji Atiku Abubakar over the non payment of 9-12 months stipends being owed beneficiaries of Npower batch c.
An original copy of the letter is shown below:
Source: https://www.facebook.com/share/p/kKUixQtwwqzsh7P6/?mibextid=qi2Omg
President Bola Ahmed Tinubu has approved ₦35,000,000,000 for the take – off of the student loan scheme.
So far, seventy thousand applications have been approved by the Nigerian Education Loan Fund (NELFUND).
Another fifty thousand applications are currently being evaluated and would be approved within one month.
The figures were exclusively obtained from sources in NELFUND.
According to the Managing Director/Chief Executive Officer, NELFUND, Dr. Akintunde Sawyerr, the student loan will be disbursed based on the timetable and calendars of the academic session of each institution.
Dr. Akintunde Sawyerr, said: “The funds will be disbursed based on the timetable and calendars of the academic session of each institution. The portal for students to apply for the loan opened on May 24, 2024.
“The portal will be permanently open because institutions don’t have a uniform calendar,” Dr. Akintunde Sawyerr, said.
No fewer than 1,200,000 students are expected to benefit from the student loan scheme of President Bola Ahmed Tinubu's administration.
Applicants are required to provide their Joint Admissions and Matriculation Board (JAMB) letter, National Identification Number (NIN), and Bank Verification Number (BVN) to apply for the student loan.
Students in Federal Government-owned tertiary institutions will be the first batch of beneficiaries of the student loan scheme.
Students from state-owned tertiary institutions will benefit from the student loan scheme too.
The Nigerian Education Loan Fund (NELFUND) said it would start receiving student loan applications from students in state-owned tertiary institutions from June 25, 2024.
The student loan, which is an equivalent of the tuition fees of the benefitting students, would be paid directly to the students' institutions.
But stipends also known as upkeep student loans would be paid directly to beneficiaries on a monthly basis to assist students buy other things that can make them comfortable while pursuing their education.
The Nigerian Education Loan Fund (NELFUND), is working with one hundred and twenty six tertiary institutions on the student loan scheme.
The source said: “President Bola Tinubu has graciously approved ₦35,000,000,000 for the student loan scheme. The Nigerian Education Loan Fund (NELFUND) are awaiting disbursement of the student loan.
“About seventy thousand applications have been approved by NELFUND management. fifty thousand applications are currently being evaluated. These applications will be approved within 30 days.
“We receive an average of one thousand five hundred applications a day.
“Mr President has provided enough funds to accommodate every Nigerian student who desires the loan.”
President Bola Ahmed Tinubu on April 3 signed into law the bill on the student loan scheme in line with his electoral promise that no Nigerian student would drop out of school on account of lack of funds.
According to the law, repayment of the student loan will start two years after the completion of the National Youth Service Corps (NYSC) programme.
The ambitious student loan scheme will be funded with 1% of the total annual collectable revenue by the Federal Inland Revenue Service (FIRS).
Source: https://thenationonlineng.net/tinubu-okays-n35b-for-student-loan-scheme-take-off/
1) What is SMEDAN Select Programme about?
The SMEDAN Select Programme is aimed at empowering Micro Small and Medium Enterprises (MSMEs) in Nigeria. SMEDAN Select Programme provides support through capacity building, market access, networking, funding, and resources tailored to the needs of participating Micro Small and Medium Enterprises (MSMEs).
Eligible Nigerian citizens who own or manage Micro Small and Medium Enterprises (MSMEs) across various sectors can apply for the SMEDAN Select Programme, which offers opportunities for training, mentorship, market linkages, and other forms of assistance.
2) Who is SMEDAN Select Programme for?
SMEDAN Select Programme is designed for Nigerian citizens who own or manage micro, small, and medium enterprises (MSMEs). SMEDAN Select Programme targets entrepreneurs seeking to grow their businesses and enhance their competitiveness in the market.
The SMEDAN Select Programme is open to individuals across various sectors, including agriculture, manufacturing, services, and technology.
3) What do I get?
Participants of this SMEDAN Select Programme receive benefits including access to capacity-building workshops, training sessions, and mentorship programs aimed at enhancing entrepreneurial skills.
Participants also gain opportunities for market access to local, regional and international markets.
Frequently Asked Questions Regarding The SMEDAN Select Programme
Q. What types of support are available through the SMEDAN Select Programme?
A. Support may include access to training and workshops, mentorship, market linkages, funding opportunities, access to technology and innovation, and other relevant resources tailored to the needs of participating Micro Small and Medium Enterprises (MSMEs).
Q. Is there a cost associated with participating in the SMEDAN Select Programme?
A. SMEDAN Select Programme typically strives to make its programmes accessible to Micro Small and Medium Enterprises (MSMEs) at minimal or no cost. However, participants may need to cover certain expenses such as travel and accommodation if required for participation in specific activities.
Q. How are participants selected for the SMEDAN Select Programme?
A. Selection processes may vary but are often based on criteria such as business viability, innovation, growth potential, and the impact of the business on the economy. Applicants may be required to submit business plans, undergo interviews, or participate in other assessment activities.
Q. What happens after I am selected for the SMEDAN Select Programme?
A. Selected participants typically undergo various training sessions, workshops, and other capacity-building activities designed to enhance their skills and capabilities. They may also receive support in accessing markets, funding, and other resources to help scale their businesses.
Q. How long does the SMEDAN SELECT Programme last?
A. The duration of the SMEDAN Select Programme may vary depending on the specific edition and activities involved. Participants are usually provided with detailed timelines and schedules upon selection.
Q. How can I apply for the SMEDAN Select Programme?
Information on how to apply for the programme, including application procedures, deadlines, and requirements, is usually provided through official SMEDAN communication channels such as their website, social media platforms, or designated application portals. Visit here https://smedan.gov.ng/our-programs/ssp/ to apply.
Take the first step towards growth by registering your interest for the SMEDAN Select Programme.
According to Npower News regarding Betta Edu the former Minister for Humanitarian Affairs and Poverty Alleviation, traders in Lagos State, as well as women, youths, and religious leaders, have appealed to President Bola Ahmed Tinubu to reinstate the suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu. The suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, has warned of potential legal action against the British Broadcasting Corporation (BBC) for purported defamation of character.
According to Npower News, the Economic and Financial Crimes Commission (EFCC) has disclosed that it has recovered ₦30,000,000,000 from the suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu.
The House of Representatives has urged the Federal Government of Nigeria to speed up its investigation into the suspended Minister for Humanitarian Affairs and Poverty Alleviation, Betta Edu. The fate of the suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu remains uncertain following her suspension.
According to Npower News on Npower payment today Saturday June 22 2024, President Bola Ahmed Tinubu suspended Npower which is under the National Social Investment Programmes Agency (NSIPA) in January 2024. The suspension of Npower occurred because of suspected irregularities within the Ministry for Humanitarian Affairs and Poverty Alleviation.
According to Npower News, an initial investigation was planned for six weeks but the situation has become more complex. The Economic and Financial Crimes Commission (EFCC) found and recovered ₦30,000,000,000 from the Ministry for Humanitarian Affairs and Poverty Alleviation, the ministry in charge of Npower. This recovered monies may be used to restart payments to Npower batch c beneficiaries in the Npower program.
The Economic and Financial Crimes Commission (EFCC) is still interrogating officials they suspect of embezzling funds from Npower. There is no confirmed date for restarting Npower payments to beneficiaries of Npower batch c.
Npower will share updates once the suspension is lifted or there are significant developments in the investigation.
According to Npower News today Saturday June 22 2024, President Bola Ahmed Tinubu lifts embargo on Renewed Hope Conditional Cash Transfer (CCT) program, indicating the continuation of support for poor and vulnerable households.
According to Npower News, Npower program remains suspended; there is no mention of the resumption of Npower. Npower payment to Npower batch c beneficiaries still possible despite suspension of Npower. The decision on the fate of Npower depends on President Bola Ahmed Tinubu.
According to Npower News President Bola Ahmed Tinubu's Renewed Hope Youth Empowerment and Innovation agenda is ongoing, featuring initiatives like 3MTT and iDICe.
The 3 Million Technical Talent (3MTT) is a program by the Federal Ministry of Communications, Innovation, and Digital Economy aimed at training 3,000,000 technical talent to boost digital economy in Nigeria. The 3 Million Technical Talent (3MTT) training is open to all Nigerian citizens who want to learn and excel in digital technology.
The Investment in Digital and Creative Enterprises (iDICE) programme is a government initiative launched in March 2023. The Investment in Digital and Creative Enterprises (iDICE) programme provides a $618,000,000 technology fund for young investors who struggle to raise money in Nigeria's technology and creative sectors.
The leadership of the Academic Staff Union of Universities (ASUU), Yobe State University (YSU) chapter, has expressed worry over the proliferation of public universities without financial commitment to fund them.
The Chairman of the branch, Ahmed Ibrahim Karage, who revealed this while briefing journalists in Damaturu, said the public universities are facing gross underfunding, epileptic or non-payment of earned academic allowances as well as non-payment of allowances among other welfare issues.
“The situation of public universities in the country is disturbing. There has been an increase in the number of public universities created by federal and state governments with no sincere financial commitment to fund the universities. State universities in this zone (ADSU Mubi, TSU, Jalingo, YSU, Damaturu) also have cases of gross underfunding, the epileptic or non-payment of EAA, the non-payment of responsibility allowances as well as other welfare issues”.
“There is no genuine commitment by governments to fund public universities. Close to two (2) decades, the budgetary allocation to education is disappointing. For example, in 2024, only 6.39 per cent of the total budget was allocated to education in the federal government budget and most of which were not released for implementation. Hope cannot be renewed in education in this mode.
“ASUU rejects any attempt to increase school fees without any corresponding inputs from the government to adequately fund education. The working class and other masses cannot afford it for now. The general public are leaving in abject penury which the political class has deliberately subject us to,” Ahmed Ibrahim Karage said.
According to Ahmed Ibrahim Karage, the attempt to increase school fees by the Federal Government which the union kicks against, has a serious potential of increasing the rate of students dropping out from the university, emphasizing that the Nigerian government has ample resources to fund education better.
“We reject the students’ loan scheme, which to us, is an IMF/World Bank ideology intended to cripple the future of our youths and bastardize our educational system. Instead of the loan, the government should give students study grants just as ASUU gives scholarships to students across the nation”.
Ahmed Ibrahim Karage noted that the ASUU’s struggle has been in the best interest of Nigeria and its people, not ASUU members alone.
“Our union is tired of dwelling on the same number of issues year in and year out, negotiating and renegotiating, and with mutual agreements reached and signed on each occasion, but with the government consistently defaulting on its own terms”.
Sterling Bank Plc and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have launched a platform called SMEDAN Databanc platform.
The SMEDAN databanc platform will serve as a single source of data on businesses in Nigeria to guide personalized interventions and support from decision-makers who serve the Micro Small and Medium Enterprises (MSME) ecosystem. The databanc platform by SMEDAN will provide insights that will be utilised by SMEDAN to deliver its mandate on policy formulation, delivery of intervention programmes and other initiatives, including financing that will support the growth of small businesses in Nigeria.
This SMEDAN databanc platform will also provide unique identification for small businesses and their promoters as well as their business areas/sectors. This platform and the Sterling/SMEDAN ₦5,000,000,000 single-digit loan programme is some of the avenues through which Sterling Bank is working with SMEDAN to jointly grow the Nigerian economy by supporting the growth and expansion of small businesses.
Speaking at the launch of the SMEDAN databanc platform, the Executive Director of Commercial and Institutional Banking at Sterling Bank, Tunde Adeola, announced the SMEDAN databanc platform and fund was a materialisation of Sterling Bank’s commitment and dedication towards growing the real sector of the nation’s economy.
Tunde Adeola, said: “We are delighted to bolster the backbone of our economy with SMEDAN. This initial fund of ₦5,000,000,000 marks just the beginning of what has been and will continue to be a mainstay of our approach to funding businesses to grow at scale, and become the preferred financial partner for businesses, no matter their scale.”
The Executive Director of Commercial and Institutional Banking at Sterling Bank, Tunde Adeola said that over twenty thousand Small and Medium Enterprises (SMEs) have enrolled on the SMEDAN Databanc platform with over eighty beneficiaries of the single-digit loan program and further disbursements of the loans are ongoing. Tunde Adeola encouraged all Micro Small and Medium Enterprises (MSMEs) in Nigeria to enrol on the SMEDAN databanc platform.
The Director-General of SMEDAN, Charles Odii, represented by the Director of Agribusiness Development and Access to Finance, Levi Anyikwa, highlighted the programme’s alignment with SMEDAN’s mission to democratize credit access and loan facility for nano and micro-enterprises.
Levi Anyikwa affirmed: “Access to finance remains a significant hurdle for SMEs, and we are committed to removing that barrier.”
Source: https://guardian.ng/sterling-bank-unveils-platform-for-n5-billion-smedan-fund/
Here are the latest news and updates about conditional cash transfer in Nigeria today, Friday, June 21, 2024:
President Bola Ahmed Tinubu lifted the suspension of the Conditional Cash Transfer (CCT) program as President Bola Ahmed Tinubu celebrated his one year in office. President Bola Ahmed Tinubu has started the distribution of ₦25,000 per month to 15,000,000 households. The Conditional Cash Transfer is one of fifteen items in the Memorandum of Understanding (MOU) between the Federal Government and the Organized Labour. The Federal Government of Nigeria will be disbursing a total of ₦75,000 to each of the 15,000,000 households over a period of 3 months.
The Conditional Cash Transfer (CCT) is in conjunction with the World Bank Group and other development partners. The Conditional Cash Transfer program is to implement conditional cash transfers, business grants and other forms of support for vulnerable and poor households in Nigeria.
Here are the latest news and updates about NELFUND student loan for today, Friday, June 21, 2024:
1) Over sixty thousand students of Federal Government institutions and Universities have so far applied for the student loan since the student loan portal for registration was officially launched.
2) The NELFUND student loan portal will be opened for student loan application by students in State-owned tertiary institutions on Tuesday June 25, 2024.
3) 90% of federal universities have submitted their students’ information to the student loan portal, adding that 10% of federal institutions and Universities were yet to submit theirs.
4) NELFUND said it would publish the full list of federal institutions that have submitted their complete student information on June 24.
5) The Nigerian Education Loan Fund (NELFUND) has clarified that students of the National Open University of Nigeria (NOUN) were not eligible for the student loan facility due to their inability to possess the Joint Admissions and Matriculation Board (JAMB) registration number.
6) The Nigerian Education Loan Fund (NELFUND) has called on applicants facing difficulties on the student loan portal to reapply for the student loan, assuring that all technical issues affecting the student loan portal have been rectified.
According to Npower News today Friday June 21st 2024, beneficiaries of Npower batch c are to take note of the following below:
1) Npower payment to beneficiaries of Npower batch c will start in June 2024.
2) The Federal Government of Nigeria has said that a new structure for its famed Npower scheme will be launched soon, and Npower arrears will be paid to eligible beneficiaries of Npower batch c soon.
3)The Npower national coordinator implored beneficiaries of Npower batch c to check their phones and accounts for the payment of the federal government grant while awaiting Npower payment.
4) The Npower national coordinator also said that the Executive Committee Members (EXCOS) are planning to go to Abuja to process the payment of the stipend being owed beneficiaries of Npower batch c.
In this context, "the EXCOS are planning to go to Abuja to process the payment of the stipend being owed beneficiaries of Npower batch c" this implies that the leadership team is taking steps to address the Npower payment issues and ensure that beneficiaries of Npower batch c receive their stipends.
5) President Bola Ahmed Tinubu lifted the suspension of the Conditional Cash Transfer (CCT) program as President Bola Ahmed Tinubu celebrated his one year in office.
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