The Nigerian Education Loan Fund has announced that 110,000 successful student loan program beneficiaries would begin receiving credit notifications next week, after President Bola Tinubu's official beginning of disbursement.
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Akintunde Sawyerr, NELFUND's Managing Director, said this on Wednesday during an interview with Channels Television. His update comes after President Tinubu handed out symbolic payments to beneficiaries at the presidential palace on Wednesday.
Sawyerr stated that the Fund now receives N35 billion in financial support from the Nigerian government.
People who are about to begin a new session in their institution would be the ones who receive alerts first, possibly as early as next week, according to NELFUND Managing Director Akintunde Sawyerr, who made the announcement on Channels Television's Politics Today on Wednesday.
"On Wednesday, the disbursement circle was formally launched at the State House by the President," he stated.
Approximately 110,000 students have applied successfully, to be exact. They have submitted their applications and been confirmed as legitimate and qualified candidates.
However, in order to ensure that they are suitably qualified to get these loans, we will still do additional verification.
However, it's expected that more than 110,000 will start getting payments the next week. "Roughly N35 billion is exposed to students currently," he stated.