Education

10 Key Takeaways from Tinubu’s Revised Student Loan Scheme

Published

2 years ago

April 5, 2024

President Tinubu has signed into law the revised Student Loan Bill of 2024, replacing the previous 2023 legislation with immediate effect. Termed the Access to Higher Education Act, 2024, this new legislation aims to rectify deficiencies in the former student loan law while significantly expanding coverage for individuals pursuing tertiary education or technical and vocational skills development.

Outlined below are ten key points highlighting the provisions of the revamped Student Loan Act:

Establishment of NELFUND: The newly enacted law emphasizes the establishment of the Nigeria Education Loan Fund (NELFUND) as a corporate entity with legal capacity to sue and be sued. NELFUND is empowered to acquire, manage, and dispose of assets to fulfill its objectives.
Financial Support by NELFUND: NELFUND is designed to extend loans to eligible Nigerians, covering tuition, fees, charges, and living expenses incurred during their education in recognized higher education and vocational training institutions within Nigeria.
Funding Structure for NELFUND: The Act outlines a structured process for financing NELFUND. It mandates the allocation of 1% of all taxes, levies, and duties collected by the Federal Inland Revenue Service (FIRS) to a designated General Reserve Fund to finance the student loan program.
Removal of Family Income Barrier: Unlike the previous legislation, the 2024 Student Loan Act eliminates the requirement of considering an applicant’s family income as a determinant for loan approval, thus promoting greater accessibility.
Elimination of Guarantor Requirement: The new law abolishes the need for applicants to provide guarantors meeting specific criteria, simplifying the application process and broadening access to loans.
Inclusion of Skill-development Programs: In a significant expansion of scope, the Act extends loan provisions beyond tertiary education to encompass vocational and technical skill development programs offered in government-owned institutions.
Exclusion of Parent’s Loan History as a Prerequisite: The Act removes the prerequisite of presenting parents’ loan history for loan eligibility, further easing access to student loans.
Commencement of Repayment Post-NYSC: Beneficiaries are mandated to commence loan repayment two years following the completion of the National Youth Service Corps (NYSC) program, easing the financial burden on recent graduates.
Penalties for False Statements to NELFUND: Stricter measures are introduced to penalize individuals providing false statements or information to NELFUND, with such actions classified as felonious and liable to imprisonment for up to three years.
Debt Forgiveness Provision: A compassionate provision within the Act offers debt forgiveness in cases of death or unforeseen circumstances preventing repayment, providing relief for borrowers facing exceptional hardship.

Presidential spokesperson Ajuri Ngelale praised the updated Act for addressing shortcomings in the previous version, asserting its role in promoting educational funding, skills acquisition, and national development.

Education

Oyelami Named Acting CEO of National Mathematical Centre

Published

2 months ago

February 25, 2026

Editor

By Omoniyi David

The Federal Government has appointed Professor Oyelami as Acting Chief Executive Officer of the National Mathematical Centre with immediate effect.

The appointment was announced in a statement by the centre’s Controller of Information and Public Relations, Onyekachi Njoku. He said the decision followed the elevation of the former CEO, Promise Mebine, as Vice-Chancellor of the Federal University Otuoke.

Njoku disclosed that the approval was conveyed in a letter signed by Rakiya Ilyasu, Director of University Education at the Federal Ministry of Education.

Professor Oyelami, a mathematician who joined the centre over two decades ago from Abubakar Tafawa Balewa University, previously served as Coordinator of the Mathematics and Theoretical Physics programmes and as Deputy Director/Academic Planning Coordinator.

An alumnus of the University of Jos and Abubakar Tafawa Balewa University, he holds a Second-Class Upper degree, MSc and PhD in Mathematics and has published widely in local and international journals.

The centre said his appointment would strengthen its mandate to promote research, innovation and capacity building in mathematical sciences.

Abuja Reports

UniAbuja Council Denies NELFUND Loan Diversion Claim

Published

2 months ago

February 15, 2026

Editor

By Patrick Idowu

The Governing Council of the University of Abuja has refuted allegations that the institution diverted funds provided by the Nigerian Education Loan Fund (NELFUND), for its students.

In a statement issued on Saturday, the council, chaired by Senator Olanrewaju Tejuoso, said no NELFUND money was diverted, misappropriated or unlawfully withheld by the university or any of its officials.

The denial comes a day after NELFUND also dismissed the allegation and cleared the university of wrongdoing.

The statement, signed by the Acting Registrar and Secretary to the Governing Council, Malam Sambo Mohammed, said the university operates within established financial regulations and maintains strict accountability in managing intervention funds.

The council urged the public to disregard what it described as a misleading media report, while reaffirming confidence in the university’s management led by Vice-Chancellor, Prof. Hakeem Babatunde Fawehinmi.

Education

JAMB Warns Candidates Against Infractions in 2026 UTME Registration

Published

2 months ago

February 9, 2026

Editor

By Onyeanya Ebere Immaculata

The Joint Admissions and Matriculation Board (JAMB) has warned that candidates who violate registration rules or breach the attestation signed during the ongoing 2026 Unified Tertiary Matriculation Examination (UTME), registration will face severe sanctions.

JAMB Registrar, Prof. Ishaq Oloyede, issued the warning on Monday as the registration entered its third week.

He said offenders could be barred from sitting for the UTME for up to three years, adding that the names of defaulters may be published in national newspapers and forwarded to other public examination bodies.

Oloyede also disclosed that candidates involved in serious offences could be handed over to the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), or the Police for prosecution.

JAMB said the measures are aimed at protecting the integrity of the examination process and ensuring fairness for all candidates.