Managing Director and Chief Executive Officer of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sanyerr, has called on students in higher institutions across the country to apply for more loans, assuring them that the process is transparent and without any interference.
Sawyerr made this call at a press conference in Lagos.
He stressed that NELFUND is doing everything possible to ensure fairness in the granting and disbursement of loans to students who apply for them.
He disclosed that a total of N23billion has so far been paid to students in 228 universities, N18billion for tuition fees and N5billion for upkeep, adding that so far, 326,000 persons have applied for the loan.
Sawyyer noting that the Federal Government is adequately prepared to fund the scheme.
He explained that in order to ensure that the loans were open to all, the registration was made available online, noting that the online application was to eliminate bias.
“You don’t have to know anybody to get the loan,” he said.
The NELFUND boss restated that the loan was interest-free, just as he emphasised that the government was interested in ensuring that no one was denied the opportunity to be educated due to lack of funds.
Commenting on the information that the loan was being more accessed by students in the North than any other part of the country, Sawyerr explained that NELFUND has increased its awareness creation so that everyone would see the opportunities that abound in it.
He said, ”What we are doing is to make sure that everybody is aware of the opportunities and the fact around it (the loan) so that they can make informed decisions about what to do. If they decide that they don’t want to take the loan, there is nothing we can do.”
He said findings had shown that the reluctance to take the loan by some Nigerians in some parts of the country was based on skepticism and cultural factor.
According to him, requesting for loan is not a popular culture in some parts of the country, hence the initial hesitation.
He said things were already changing, however, in recent times, given the amount of awareness being created.
The NELFUND boss said the parts of the country that were said not to be requesting the loan had started picking up and doing well.
He assured the people that NELFUND would continue to create the awareness so that Nigerians would continue to benefit from the opportunities that abound.
Sawyyer added, “Our obligation is to go to every nook and cranny of Nigeria and make Nigerians aware of the presence and opportunities to encourage them to take the loan if they need it.
“People in the Northern part of the country had taken it (loan) faster than people in the South….
“But we believe that given the activities put in place, the areas that had been skeptical are now growing faster (in application) than the other parts of the country.
“Our obligation is to create an equal opportunities. Our objective is to ensure fairness, equity in transmission of information to all Nigerians on what it is all about.”
