Student Loan Applications Hits Over 500,000 – NELFUND Reveals

The Nigeria Education Loan Fund (NELFUND) has announced that in its inaugural year, more than 500,000 Nigerian students sought loans via the NELFUND portal.

This milestone was reached within a mere 11 months of operation, highlighting the critical need for accessible student financing in Nigeria.

Naijaonpoint reports that the Managing Director/CEO of NELFUND, Akintunde Sawyerr, remarked that this figure represents more than just statistics.

According to him, it symbolises hope for families throughout Nigeria.

“We are observing a widespread demand for opportunities, and NELFUND is honoured to play a pivotal role in this change,” Sawyerr noted.

He further noted that since the portal’s launch, students nationwide have actively participated in the application process for both institutional and living expenses loans, illustrating the significance and urgency of the Fund’s initiatives.

While emphasising NELFUND’s dedication to maintaining transparency, accessibility, and efficiency as the process evolves, he encouraged all stakeholders to collaborate in promoting the vision of equitable education for everyone.

Additionally, he invited students to reach out to their team for further information.

Meanwhile, the Federal Government Staff Housing Loans Board (FGSHLB) has begun compiling the names of retired civil servants who defaulted on the repayment of housing loans they obtained during their years of service.

The move is part of efforts to recover mortgaged properties from retirees who failed to meet their loan obligations.

This initiative was disclosed in a statement on Thursday in Abuja by the Board’s Head of Information and Public Relations, Ngozi Obiechina.

Obiechina quoted the Executive Secretary of the FGSHLB, Salamatu Ahmed, as saying that the Board’s actions are a direct response to a recent circular issued by the Permanent Secretary of the Career Management Office in the Office of the Head of the Civil Service of the Federation, Patience Oyekunle.

Naijaonpoint gathered that the memo reminded public servants that obtaining a Certificate of Non-Indebtedness from the FGSHLB and the MDA Staff Multipurpose Cooperative Society is a mandatory requirement for retirement.

According to Ahmed, the decision to begin compiling the list of retirees who owe housing loans aligns with the provisions of the Public Service Rules, which mandate that all public servants must obtain a Certificate of Non-Indebtedness before they can retire.