President Bola Tinubu met in a closed-door meeting with the Chairman of the Nigerian Education Loan Fund (NELFUND), Jim Ovia, at Aso Rock Villa in Abuja.
Naija News understands that the President’s meeting with Ovia, who is also the founder of Zenith Bank, held on Tuesday.
Though the meeting details have yet to be made public, it comes at a time when the federal government is working to strengthen the implementation of its student loan programme and expand access to tertiary education.
The Nigerian Education Loan Fund (NELFUND) is a federal government initiative that provides interest-free loans to Nigerian students attending public tertiary institutions (universities, polytechnics, and colleges of education). Established under the Student Loans Act, it covers institutional tuition fees and provides a monthly upkeep stipend for living expenses.
The loans do not accrue interest, though beneficiaries are legally obligated to repay them.
Meanwhile, NELFUND has warned students against taking education loans they do not need, stressing that the scheme is voluntary and meant to support those who cannot afford the cost of their studies.
The fund said students who can pay their school fees and other educational expenses without assistance are not required to apply for the loans.
NELFUND made this known in a statement issued in Abuja on Wednesday and signed by its Director of Strategic Communications, Oseyemi Oluwatuyi.
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