You Do Not Need To Have Connections To Get A Student Loan In Nigeria - Fred Femi Akinfala
It must be emphasized 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 student loan… Instead, what is essential is for an applicant to meet the laid-down criteria and eligibility requirements for the student loan. These are ensuring, as an applicant, 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).
I believe 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.
I am convinced that in several months from now, the initiative will be recorded as the most revolutionary policy regarding tertiary education in Nigeria. This is because the Nigerian Education Loan Fund (NELFUND), among other benefits, would help Nigerian students create a safe pathway from financial challenges 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 Bola Ahmed Tinubu’s Renewed Hope agenda, that the management of the Nigerian Education Loan Fund (NELFUND) is committed and dedicated to creating an open, fair, and transparent student loan application process. The openness in the student loan scheme’s administration means that students can easily apply for student loan online, submit, and track a student loan request through the same process, which means that there is nothing anyone, including officials of the Nigerian Education Loan Fund (NELFUND), can do to manipulate the student loan application process for self-advantage.
Already, the Nigerian Education Loan Fund (NELFUND), has gathered current students’ information, involving the federal universities, polytechnics, colleges of education and technical colleges in Nigeria. The same process now applies to state-owned tertiary institutions, which will commence on Tuesday, the 28th of June.
It must be emphasized 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 student loan.
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.
Instead, what is essential is for an applicant to meet the laid-down criteria and eligibility requirements. These are ensuring, as an applicant, 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 student loan process and its accessibility to the public are to clear ambiguity or a perception of bias in selecting successful student loan 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 Nigerian Education Loan Fund (NELFUND), 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 Nigerian Education Loan Fund (NELFUND).
For Akintunde Sawyerr, pilfering funds meant to empower students is egregious and an unpardonable sin. Akintunde Sawyerr 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.
Despite their depravity, it was a creed among them (burglars). Mr Akintunde Sawyerr told me, by the same token, that even the most depraved person, if appointed into a position of trust and to protect children’s welfare, must eschew committing such atrocious sin against them.
The task before the NELFUND management is to ensure the corrupt-free management of the interest-free student loan scheme to millions of students from the sixty two federal and sixty three state universities in the country.
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