The Nigerian Training Mortgage Fund (NELFUND) has accepted the disbursement of pupil loans to profitable candidates from chosen tertiary establishments.
In a press release printed on its official X deal with (previously Twitter) on Thursday, the directive was given following NELFUND inaugural board assembly in Abuja on Wednesday, chaired by its chairman, Jim Ovia.
The assertion, signed by NELFUND Head of Media and Public Relations, Nasir Ayitogo, mentioned the assembly marked a big milestone within the organisation’s dedication to empowering tertiary college students by monetary assist.
It mentioned, “Below the management of the Board Chairman, Mr. Jim Ovia, high in agenda was the approval for disbursement of pupil mortgage to profitable candidates.
“This resolution underscores President Bola Ahmed Tinubu’s dedication to offering well timed and important monetary help to college students in want, enabling them to pursue their instructional objectives with out undue monetary stress.
“By approving the instant disbursement of the loans, NELFUND is taking a important step in fulfilling its mission to assist training and empower the subsequent era of leaders.”
The inaugural assembly additionally set the stage for future initiatives, geared toward enhancing instructional alternatives, and offering complete assist to college students throughout numerous disciplines.
Additionally current on the assembly have been the administration of the Fund led by its Managing Director/CEO, Akintunde Sawyerr, and representatives of member organisations.
LEADERSHIP experiences that NELFUND introduced a 14-day postponement of the appliance course of for college students of state-owned establishments because of low knowledge submissions.
Ayitogo, on Tuesday, mentioned the choice was necessitated by the failure of a number of state-owned establishments to add the required pupil knowledge and payment info to the NELFUND Pupil Verification System (SVS).
Up to now, it mentioned solely a restricted variety of state-owned establishments have accomplished the information submission course of. These embrace 20 state-owned universities out of 48, 12 state-owned faculties of training out of 54, and two state-owned polytechnics out of 49.
He mentioned, “Whereas we acknowledge the efforts of those establishments, the failure to submit knowledge from the remaining state establishments poses vital challenges to making sure a seamless and correct verification course of for pupil mortgage candidates.”
The appliance window, initially set to open on June 25, 2024, will now start on July 10, 2024, in line with Ayitogo.