The Nigerian Education Loan Fund (NELFUND) has approved the disbursement of student loans to successful applicants.
The approval was granted at NELFUND’s inaugural board meeting, held in Abuja on Wednesday.
The meeting was chaired by Mr. Jim Ovia and attended by the fund’s management and representatives of member organizations.
According to a statement released by NELFUND, the board approved the immediate disbursement of student loans to successful applicants.
The statement read, “NELFUND is taking a critical step in fulfilling its mission to support education and empower the next generation of leaders.”
Recall that President Tinubu had signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law on April 3, 2024.
The registration for the program, which began in May, has already seen 1.2 million students in federal tertiary institutions across the country apply for the first batch.
