NELFUND Reassures Fair Access to Student Loans
The Nigerian Education Loan Fund (NELFUND) has announced that all eligible Nigerian students can access its interest-free loan program without needing influential connections or “godfathers.” Dr. Fred Femi Akinfala, Executive Director of Finance and Administration at NELFUND, emphasized the organization’s commitment to a transparent and fair application process. He assured that the initiative, which aligns with President Bola Tinubu’s Renewed Hope agenda, aims to remove financial barriers to education.
Commitment to Equality and Transparency
No Godfather Needed, Every Eligible Student is Equal
The Nigerian Education Loan Fund (NELFUND) has assured Nigerians that all eligible students will have equal access to its interest-free loan program without needing any special connections or “godfathers.” Dr. Fred Femi Akinfala, Executive Director of Finance and Administration at NELFUND, emphasized the organization’s commitment to a transparent and fair application process. He expressed confidence that by the end of President Bola Tinubu’s tenure in 2031, the student loan program will be one of his most notable achievements.
Alignment with National Agenda
Akinfala stated that the student loan initiative aims to remove financial barriers for students, aligning with President Tinubu’s Renewed Hope agenda. He highlighted that the application process will be clear and unbiased, ensuring that no official can manipulate it. ‘Every eligible student is equal, and no one needs a ‘godfather’ to access the loan,” Akinfala said. He added that applicants must meet specific criteria, including enrollment in a Federal or State tertiary institution, a letter of admission from the Joint Admission and Matriculation Board (JAMB), a Biometric Verification Number (BVN), and a National Identification Number (NIN). NELFUND is focused on building public trust and ensuring inclusivity and transparency. The management, led by Managing Director Mr. Akintunde Sawyerr, has declared zero tolerance for corruption. Sawyerr emphasized that misusing funds meant for students is unacceptable.
Every eligible student is equal, and no one needs a ‘godfather’ to access the loan,” stated Dr. Fred Femi Akinfala, Executive Director of Finance and Administration at NELFUND.
Scholars
Data Collection and Future Plans
To streamline the process, NELFUND has gathered data from current students in federal universities, polytechnics, colleges of education, and technical colleges. Applicants must meet specific criteria, including enrollment in a Federal or State tertiary institution, a JAMB admission letter, a Biometric Verification Number (BVN), and a National Identification Number (NIN). NELFUND is focused on building public trust and inclusivity, with zero tolerance for corruption. The fund has started collecting data from current students in federal institutions and will begin data collection for state-owned institutions on June 28.
NELFUND’s commitment to fair and transparent access to interest-free student loans marks a significant stride towards inclusive education in Nigeria. By eliminating the need for influential connections or “godfathers,” the organization ensures that every eligible student has an equal opportunity to pursue higher education. Supported by stringent anti-corruption measures and proactive data collection initiatives, NELFUND aims to build public trust and enhance educational opportunities across federal and state-owned institutions. As the initiative progresses under President Bola Tinubu’s Renewed Hope agenda, NELFUND remains dedicated to removing financial barriers and fostering a brighter future for Nigerian students.
