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NELFUND Explains August Stipend Delay, Cites Security Checks

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The Nigerian Education Loan Fund (NELFUND) informs students that the delay in the August stipend is due to ongoing payment processing, which includes necessary security checks to protect public funds and ensure proper allocation to beneficiaries.

Although this process may cause inconvenience, it is essential for maintaining transparency, accountability, and upholding the integrity of the student loan program. NELFUND asks for patience and understanding during this period as they finalize disbursement with diligence.

The fund remains committed to empowering students and enhancing access to higher education across Nigeria. Efforts are underway to complete disbursements as soon as possible.

NELFUND appreciates feedback from students and acknowledges their engagement in monitoring upkeep disbursements. This involvement reinforces the significance of the student loan program, and NELFUND remains dedicated to supporting students’ educational pursuits, consistent with previous disbursements.

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SSANU, NASU Issue Seven-Day Strike Notice Over Earned Allowances, Others

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The Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Educational and Associated Institutions (NASU) have given the Federal Government a seven-day ultimatum to address long-standing grievances affecting non-academic staff across universities.

In a joint letter dated September 12, 2025, the unions criticised what they described as the “unfair” sharing of earned allowances, the non-payment of outstanding entitlements, and delays in resolving other critical labour matters.

The document, signed by SSANU President Muhammed Ibrahim and NASU General Secretary Peters Adeyemi, reminded Education Minister Tunji Alausa of an earlier letter from their Joint Action Committee (JAC) on June 18, 2025. That letter, they said, had outlined pressing issues requiring government intervention.

Following the correspondence, the minister convened a meeting with NASU and SSANU leaders on July 4, 2025, to discuss the concerns raised.

According to the unions, the outstanding matters include: the “unjust disbursement” of ₦50 billion in earned allowances, non-payment of withheld salaries, failure to implement a 25/35 per cent salary increment, and the delayed renegotiation of the 2009 FGN–NASU/SSANU agreements.

They warned that if the government failed to act within the seven-day window starting Monday, September 15, 2025, their members would embark on a series of lawful industrial actions, including strikes.

The statement further noted that during the July 4 meeting, it was agreed that a Tripartite Committee—comprising the Federal Ministry of Education, the National Universities Commission, and representatives of the two unions—would be set up to address the imbalance in the ₦50 billion allowances. The unions argued that while university staff received a share, workers in Inter-University Centres were completely excluded.

On the matter of two months’ withheld salaries, the unions said there was no resolution at the July meeting. However, the minister reportedly pledged to fast-track the payment of arrears tied to the 25/35 per cent salary increment owed to members.

They added that a reminder letter was sent to the minister on August 18, 2025, due to what they described as his office’s silence—or deliberate refusal—to act on the issues.

The statement also faulted the government for dragging its feet on the renegotiation of the 2009 agreements. The committee chaired by Alhaji Yayale Ahmed, inaugurated on October 15, 2024, only met with the JAC once—on December 10, 2024. Since then, the unions claimed, the government team has stopped engaging them, even though it has reportedly concluded renegotiations with the Academic Staff Union of Universities (ASUU).

The unions recalled that they raised this concern during the July 4 meeting, where the minister promised to intervene. However, no progress has been recorded since then.

“Despite our repeated attempts to draw attention to the plight of our members in universities and Inter-University Centres, the government has failed to act,” the unions said.

They stressed that, given the continued inaction, they had no choice but to issue a final seven-day notice beginning September 15, 2025. Failure to meet their demands, they warned, would result in nationwide strikes and other industrial actions.

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Nepal Protests: Two Nigerian Inmates Rearrested After Jailbreak

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Two Nigerian nationals who allegedly broke out of prison in Nepal during recent anti-government demonstrations have been captured by India’s paramilitary force, the Sashastra Seema Bal (SSB).

According to a Monday report by the Press Trust of India, the duo was apprehended on Saturday in Jainagar, Bihar State, as they attempted to cross the border back into Nepal.

The Nigerians were reported to be among dozens of detainees—both locals and foreigners—who escaped correctional facilities in Nepal amid violent protests that shook the Himalayan country in recent weeks.

Quoting a security source, the news agency said: “These individuals were intercepted at the border in the past three to four days after escaping from different jails during the massive anti-government demonstrations in Nepal.”

The SSB disclosed that more than 79 fugitives, including foreign nationals, have so far been arrested in various Indian states adjoining Nepal.

Authorities explained that the large-scale manhunt became necessary because the 1,751-kilometre-long India-Nepal border, spread across 20 districts in five states, is largely open and without fencing.

The arrest of the Nigerians has once again spotlighted the recurring involvement of some Nigerian nationals in cross-border crimes across Asia, a trend that has increasingly worried law enforcement agencies.

Earlier reports had it that police in Kozhikode City, India, arrested eight Nigerians accused of drug trafficking.

The Hindu newspaper noted that the suspects allegedly held “key roles” in a wider drug cartel said to operate across multiple Indian states.

In collaboration with a state-level task force, the Kozhikode police also discovered a synthetic drug laboratory in Gurugram, Haryana, with assistance from police units in Delhi and Haryana.

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FX Inflows, Reserves Boost Naira To N1,497/$

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The Nigerian naira on Monday gained ground against the United States dollar, breaking below the ₦1,500/$ barrier for the first time in over six months. Figures from the Central Bank of Nigeria showed the currency closed at ₦1,497.46/$, an improvement on the previous rate of ₦1,501.49/$, representing a 0.27 per cent appreciation.

The last time the naira traded under ₦1,500/$ at the official market was between February 24 and March 4, 2025. The recent rebound follows a week where the local currency hovered around that mark, with intra-day trades mostly above ₦1,500/$.

The positive movement was also seen in the parallel market, where the naira rose by 0.33 per cent to close at ₦1,535/$, according to data from CardinalStone Research.

Market trackers noted that the naira advanced by 0.98 per cent week-on-week to end at ₦1,501.50/$ at the official window, while the parallel market posted a 0.33 per cent gain at ₦1,535/$.

A report by Coronation Weekly Update highlighted that the official exchange rate closed the week at a ₦35.50 or 2.23 per cent premium compared to the parallel market rate, showing the gap between both markets has continued to narrow.

The report also indicated that total foreign exchange inflows into Nigeria reached $550.90 million last week, slightly lower than the $567.20 million recorded in the preceding week.

Foreign portfolio investors accounted for the bulk of the inflows with $303.8 million, or 55.15 per cent. Exporters contributed 17.61 per cent, non-bank corporates 17.57 per cent, other corporates 4.32 per cent, foreign direct investments 3.39 per cent, the CBN 2.36 per cent, and individuals 0.60 per cent.

Analysts attributed the naira’s appreciation to strong foreign portfolio inflows, robust external reserves, and sustained interventions from the central bank.

AIICO Capital observed that abundant dollar liquidity from portfolio investors, oil exporters, and offshore flows created a stable market tone throughout the week.

“The FX market is expected to retain its stability, buoyed by CBN policy measures and government fiscal actions to maintain sufficient liquidity,” analysts at the firm stated.

Cowry Asset Management also noted that the naira’s rebound was driven by steady inflows, CBN interventions, and growing reserves, but cautioned that speculative activities could still spark volatility.

“We expect the naira to maintain its upward trend in the near term, anchored on dollar inflows, central bank interventions, and stronger reserves. Nonetheless, speculative trades may reintroduce pressure,” the company said.

Experts forecast that the naira is likely to trade within a narrow range in the short term. Coronation analysts suggested that stability could persist if inflows remain steady and reserves stay healthy but warned that pressure may return should portfolio inflows slow or FX demand rise ahead of the festive season.

Meanwhile, Nigeria’s gross external reserves climbed to $41.69 billion as of Friday, reflecting consistent daily accretions. Analysts believe this trend will enhance investor confidence and reinforce the central bank’s stabilisation efforts.

Despite recent gains, experts cautioned that the naira’s resilience depends on deeper structural reforms, diversified foreign exchange sources, and policies aimed at attracting long-term direct investment rather than relying heavily on portfolio flows.

For now, the naira’s recovery below ₦1,500/$ signals renewed market confidence, though its durability will be tested in the coming weeks against external shocks and speculative pressure.

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