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STUDENT LOAN: NELFUND Reels Out Requirements, See How To Apply

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The Nigerian Education Loan Fund (NELFUND) says the pilot phase of the student loan scheme will only be open to federal tertiary institutions.

In June 2023, President Bola Ahmed Tinubu signed into law the first iteration of the student loan programme, which allowed students to borrow money without paying interest.

The plan was supposed to go into effect in October 2023, however execution was continuously postponed until it was reenacted in April 2024.

May 24 is the day that NELFUND has set aside for the launch of the loan application and issuing portal.

To apply for the loan, a student must have their admission letter, national identification number, and bank verification number.

How to apply:

  • Log into the portal: The loan application portal is available on the NELFUND website (www.nelf.gov.ng). Log on to the students loan portal on the website.
  • Create an Account: On the loan portal, create an account or log in using your existing credentials if you have created an account before.
  • Documents required: Applicants will require the Joint Admissions and Matriculation Board (JAMB) admission letter, the National Identification Number (NIN), and their Bank Verification Number (BVN).
  • Complete the application: Fill out the required information, including personal details, academic information, and financial need.
  • Submit your application: Review your application thoroughly before submission. Once submitted, you will receive a confirmation email with further instructions.

Akintunde Sawyerr, the managing director of NELFUND, hosted a pre-application sensitisation conference on Monday in Abuja.

He said the loan scheme is designed to provide financial assistance for obligatory fees and stipends to needy students.

The MD said the scheme’s pilot phase is for students in federal institutions including universities, polytechnics, colleges of education, and technical schools whose institutions have completed and uploaded their student data.

He said the loan application process has been streamlined to ensure easy access for all eligible students in federal tertiary institutions.

Sawyerr said prospective applicants can begin their application process effective from May 24.

Highlighting the key features of the application portal, Sawyerr said it is designed such that no physical contact between the loan applicant and NELFUND is required.

He said the portal is user-friendly and simplifies applying for a student loan with an intuitive design that allows quick navigation.

He said the portal embodies an online support mechanism to assist students with questions or concerns during the application process.

Sawyerr said the student loan scheme remains interest-free and offers flexible repayment options to commence two years after completing the National Youth Service Corps (NYSC), provided the individual has secured employment.

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Naomi Campbell Gets 5-Yr Ban From Being Charity Trustee In UK For “Using Funds On Spa Treatment”

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Naomi Campbell, the British supermodel, has been banned from serving as a charity trustee in England and Wales for five years.

The UK Charity Commission found that her charity, Fashion for Relief, was “poorly governed and managed financially” by its trustees.

The investigation, conducted from April 2016 to July 2022, revealed that only 8.5% of the funds raised were spent on charitable grants.

Additionally, charity funds were reportedly used for Campbell’s stays in luxurious hotels, spa treatments, and cigarettes.

Campbell responded to the findings in an interview, expressing her concern and claiming she was not aware of these expenses, as she had entrusted the charity’s management to a legal employer. She said, “I was not in control of my charity.”

Veronica Chou and Bianca Hellmich, other trustees, were also sanctioned.

Hellmich was banned for nine years for receiving unauthorized funds, while Chou was banned for four years.

Tim Hopkins, part of the investigation team, stated that Campbell and the other trustees had failed in their legal duties.

Approximately £344,000 has been recovered, and an additional £98,000 of charitable funds has been protected.

The recovered funds were used to make donations to other charities and settle liabilities.

Campbell founded Fashion for Relief in 2005 with the aim of relieving poverty.

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Why Tinubu Shouldn’t Trust His “Kitchen Cabinet” — Former Communications Adebayo Shittu

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A former Minister of Communications, Adebayo Shittu, has advised President Bola Tinubu against trusting some of his closest advisors when it comes to recommending individuals for ministerial positions, particularly as he prepares for a cabinet reshuffle.

Shittu shared his insights during an appearance on Channels Television’s Politics Today programme on Thursday.

He highlighted that some members of the President’s kitchen cabinet, who should ideally seek out technocrats for ministerial roles, have their own vested interests and may only suggest candidates who align with their personal agendas.

“You cannot trust anybody, even if you are talking of kitchen cabinet,” Shittu remarked, noting that some current cabinet members have not met expectations.

He elaborated, “This will be the first time he (Tinubu) would be recruiting people from all parts of the country most of whom he may never have met in life.

But he may just be riding on the recommendation, perhaps, of interested power blocs within the party who would give information and sell their candidate for one reason or the other.”

Shittu emphasized, “Mr President has an opportunity to decide what he wants. If you are not there and if he does not tell you exactly what he wants, it would be very difficult but I think one failing in our system in this country is that when people are appointed, or about to be appointed, we don’t have a kind of orientation exercise which perhaps will take a week or two weeks to school those to be given jobs to understand the priorities of their employer.”

Since taking office, Tinubu has appointed 48 ministers as of August 2023, shortly after his inauguration.

The Senate quickly screened and confirmed these ministers. However, one minister, Betta Edu, faced suspension in January, while another, Simon Lalong, transitioned to the Senate.

Calls for a cabinet reshuffle have intensified, with many Nigerians expressing dissatisfaction over the performance of several ministers amid rising inflation, a challenging economic landscape, and increasing insecurity.

This week, presidential spokesman Bayo Onanuga indicated that the President would indeed be reshuffling his cabinet but did not specify a timeline for this reorganization.

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FG To Toll Lagos-Ibadan Expressway, Second Niger Bridge, Others — Works Minister David Umahi

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Minister of Works, Dave Umahi, announced that the Federal Government will begin tolling all major roads in the country upon the completion of construction and renovation projects.

During an Inter-Ministerial Press Briefing in Abuja, part of activities marking Nigeria’s 64th independence anniversary, Umahi mentioned that roads such as the Lagos-Ibadan Expressway, Second Niger Bridge, Abuja-Kano Road, and Makurdi-9th Mile would be tolled.

Umahi emphasized that tolling would generate significant revenue for the government, adding that private sector involvement is being sought to fund the construction and tolling of these roads.

He said that the Keffi-Makurdi Road would be the first to be tolled, and the Ministry of Works is working with the Ministry of Finance to implement a paperless payment system for tolls.

He assured that enhanced security, solar lighting, and reduced travel times on these roads would increase public confidence and encourage payment of tolls.

Umahi further stated that the current administration, under President Bola Tinubu, has taken a more professional approach to road development, treating it as an investment.

The administration inherited 300 damaged roads and bridges, and new construction projects will begin across the six geopolitical zones starting October 1, 2024.

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