The Nigerian Education Loan Fund (NELFUND) has warned Nigerians regarding a “fraudulent advertisement” promoting a “Federal Study Loan.”
This came after advertisements on various news sites promoted the website, www.fedstudyloan-gov.ng, as the entry point for the much-anticipated Federal Government student loan programme.
NELFUND’s Warnings
The following statement was made by Nasir Ayitogo, the organisation’s lead in public relations and media relations, on Friday: “NELFUND wishes to clarify that it has no association with this website and strongly condemns any attempts to deceive students seeking financial aid.” The official application channel for student loans, according to Ayotogo, is www.nelf.gov.ng.
Read also: Seven Key Facts about Nigeria’s Consumer Credit Scheme CREDICORP
The public will be able to access this channel when it opens. He pleaded that anyone who comes across the fraudulent website should report it to the authorities without delay. Making reference to the fact that NELFUND is devoted to offering reliable information and resources for the financial support of Nigerian students’ education and takes their safety and welfare extremely seriously.
He strongly advises that students be wary of any website or service that claims to be associated with the organisation and to check its legitimacy. Meanwhile, the statement urges anyone who has been impacted by this scam to promptly notify the proper authorities.
The Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, was signed into law by President Bola Tinubu on April 3. Both the Senate and the House of Representatives had their own processes for reviewing the TETFund report from the Committee on Tertiary Institutions. Impoverished students can get loans to pay for their higher education at any university in Nigeria without paying interest, according to a new law.
FG Appoints Jim Ovia as Chairman of Students Loan Board
Meanwhile, a prominent Nigerian banker and businessman named Jim Ovia has been appointed to the position of Chairman of the Board of the Nigerian Education Loan Fund under the approval of President Bola Tinubu. President Tinubu made this announcement on Friday in a statement released by the State House by Ajuri Ngelale, the Special Adviser to the President, Media & Publicity.
According to the statement, Ovia is a highly regarded business magnate, the brains behind one of Nigeria’s most successful banks, and someone who has done a great deal to help young people in his home country. He has a Master of Science degree in business administration from the University of Louisiana and is a graduate of Harvard Business School.
Read also: GCIP Nigeria celebrates Cleantech Innovators
An essential intervention, the National Student Loan Programme aims to provide all young people and students in Nigeria with the means to pursue and complete higher education and acquire marketable skills. The innovation’s executing body, the Nigerian Education Loan Fund, is looking for top-tier Nigerians to lead and oversee its operations.
The President has faith in Mr Ovia’s ability to bring his extensive background and distinguished career to the position, as stated in the statement, and to help realise the critical goal of guaranteeing that no student in Nigeria faces an arbitrary financial barrier to higher education.
With Ovia in office, Nigerian youths of all backgrounds will have a better chance of getting the degrees they need to become contributing members of society and leaders in the information-based global economy of the 21st century.