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NELFUND Launches Pilot Phase Of Nigeria’s Student Loan Scheme

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The pilot phase of Nigeria’s student loan scheme has gone live with federal tertiary institutions as beneficiaries.

Recall Nigeria’s President, Asiwaju Bola Ahmed Tinubu, enacted an initial version of the student loan policy in June 2023 to grant interest-free loans to students.

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.

Only federal tertiary institutions would be eligible for the scheme’s pilot phase, according to NELFUND during pre-application sensitization.

On May 24, the programme went online at 0:00, and the fund encouraged federal universities, polytechnics, and colleges students to apply.

Earlier, NELFUND confirmed that loans to state-owned institutions will be provided as part of the scheme’s second rollout, which will be notified when it is due.

In an FAQ published via its social media page, NEFUND said only students of public tertiary institutions are eligible to apply for the loan.

It said they must submit proof of admission capturing their name, birth date, JAMB number, matriculation number, and BVN.

The fund said all new and existing students within the institutions can enter for the loan, conditionally including direct entry candidates.

It said how much loan every student is allowed to apply for would be determined by the charges of their respective institution.

“The charges will be remitted directly to the institutions and the upkeep will be paid to the applicant on a monthly instalment,” it said.

“Applicants will receive a notification and the status of the loan application can be seen in the applicant’s profile on the portal.”

NELFUND said a beneficiary must begin repayment two years after their youth service as long as they have a job or are self-employed.

It said a beneficiary should notify NELFUND by court affidavit every three months after this due date if still unable to gain employment.

“Ten percent of a beneficiary’s salary will be deducted at source. Self-employed beneficiaries are to remit 10% of monthly profits,” it said.

“You are at liberty to seek to repay beyond the statutory 10% monthly repayment by your employers/by self if you are self-employed.

The fund said an applicant would be denied a loan if proven to have defaulted on any previous loan granted by any licensed financial institution if found guilty of submitting fake documents, and if dismissed for exam malpractices by any school authority.

It said they may be disqualified if convicted of fraud, forgery, drug offences, cultism, felony, and any offence involving dishonesty.

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Tinubu To Hold First Presidential Media Chat Tonight

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President Bola Tinubu’s inaugural media chat is set to be broadcast on the Nigerian Television Authority (NTA) and the Federal Radio Corporation of Nigeria (FRCN).

In a statement, Bayo Onanuga, the presidential spokesperson, confirmed that the media chat will be aired at 9 p.m. today.

“The first Presidential Media Chat with President Bola Ahmed Tinubu will be broadcast at 9 p.m. on Monday, December 23, on the Nigerian Television Authority and Federal Radio Corporation of Nigeria,” the statement reads.

All television and radio stations are encouraged to tune in to the broadcast.

This marks Tinubu’s first media chat since he assumed office on May 29, 2023.

During the chat, Tinubu will respond to questions from a panel of journalists on national matters, including his economic policies, security, and other key issues.

The tradition of presidential media chats began during the tenure of former President Olusegun Obasanjo.

The practice was continued by the administrations of Umaru Musa Yar’Adua and Goodluck Jonathan.

However, under the administration of former President Muhammadu Buhari, the frequency of the presidential media chats declined.

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IGP Didn’t Ask Nigerians To Beat Up Officers During Stop-And-Search — Police

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The Nigeria Police Force (NPF) has clarified that Kayode Egbetokun, the inspector-general of police, did not instruct Nigerians to pummel officers during stop-and-search operations.

In a statement on Monday, Muyiwa Adejobi, the force spokesperson, emphasized that Egbetokun has never endorsed violence against law enforcement agents.

Adejobi added that the blog post suggesting otherwise was entirely fabricated.

“The Nigeria Police Force wishes to address a viral fake news story that has emerged, claiming that Inspector-General of Police, IGP Kayode Adeolu Egbetokun, has instructed citizens to physically assault and throw stones at police officers who request to search their phones,” the statement reads.

“This claim is entirely false and has no basis in reality. The IGP has not issued any such directive encouraging violence against law enforcement officers.”

“Instead, he has called on citizens to report instances of police misconduct through appropriate channels.”

“This approach underscores the importance of accountability and maintaining the rule of law, rather than resorting to violent actions.”

“Members of the public are urged to make use of the following Police helplines & contacts to lay complaints whenever necessary: +2347056792065, +2349133333785, +2349133333786, @PoliceNG on X, @ngpolice on Facebook, and @nigeriapoliceforce on Instagram.”

“Citizens can also contact us by mail through; [email protected] and reach us through the police website at npf.gov.ng.”

Recently, Egbetokun instructed police officers to stop arbitrary arrests and cease searching the smartphones of Nigerians.

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Federal Government Declares Public Holiday For Christmas, New Year Celebrations

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The federal government has declared December 25-26, and January 1, 2025, as public holidays.

The public holidays are to commemorate the “Christmas,” “Boxing Day,” and “New Year’s Day” celebrations, respectively.

Olubunmi Tunji-Ojo, the minister of interior, announced the dates in a statement signed by Magdalene Ajani, the ministry’s permanent secretary.

He extended his greetings to Nigerians for the holidays and encouraged them to use the festive period to reflect on the values of “love,” “peace,” and “unity” that the season signifies.

He further emphasized that the yuletide is a time to foster harmony and strengthen bonds across families and communities.

“The Christmas season is a good moment for both spiritual reflection and national renewal. As we celebrate the birth of Jesus, the Prince of Peace, let us demonstrate kindness and extend goodwill to one another, irrespective of our differences,” the statement reads.

The minister also urged Nigerians to remain committed to the peace, unity, and progress of the nation.

He assured citizens of the federal government’s commitment to peace, security, and prosperity across the nation.

Tunji-Ojo added that the “Renewed Hope Agenda” of the President Bola Tinubu administration will usher in a prosperous economy that will be the envy of the world.

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