NELFUND Approves Immediate Disbursement Of Student Loans To Successful Applicants


June 27, 2024.

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Azonuchechi Chukwu.

The Nigerian Education Loan Fund (NELFUND) held its inaugural board meeting on Wednesday, marking a milestone in its mission to support students with financial aid.

Under the leadership of its Chairman, Mr Jim Ovia, the board approved the immediate disbursement of student loans to successful applicants.

A late Wednesday statement obtained from the agency’s X account revealed this.

The press release was titled, “NELFUND Holds Inaugural Board Meeting as Student Loan Disbursement Tops Agenda.”

It was signed by its Head, Media and Public Relations, Nasir Ayitogo.

The meeting, attended by the fund’s management and representatives of member organisations, also laid the groundwork for future initiatives to enhance educational opportunities and support students across various disciplines.

The approval of the loans by NELFUND signifies a step towards empowering the next generation of leaders through education.

The statement read, “The Nigerian Education Loan Fund (NELFUND) on Wednesday, June 26, 2024 held the inaugural meeting of its board in Abuja.

“The meeting marked a significant milestone in the organisation’s commitment to empowering students through financial support.

“Under the leadership of of the Board Chairman, Mr. Jim Ovia, top in agenda was the approval for disbursement of student loan to successful applicants.”

According to the statement, this phase align with the presidency’s dream of improving the quality of education and making it affordable for all.

“This decision underscores President Bola Ahmed Tinubu’s dedication to providing timely and essential financial assistance to students in need, enabling them to pursue their educational goals without undue financial stress.

“By approving the immediate disbursement of the loans, NELFUND is taking a critical step in fulfilling its mission to support education and empower the next generation of leaders.

“Also present at the meeting were the management of the fund led by the Managing Director/CEO, Mr Akintunde Sawyerr and representatives of member organisations,” it concluded.

Tinubu had on April 3, 2024, signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law.

The registration for the programme took off in May with 1.2 million students in federal tertiary institutions across the country – starting the first batch.(

Chukwu Azochukwu, The Naija247news
Chukwu Azochukwu, The Naija247news
Azonuchechi Chukwu - Business Journalist at Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the team.

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