President Bola Tinubu has appointed a managing director (MD) and two executive directors to serve on the management team of the National Education Loan Fund.<\/p>\n
He gave the approval for their appointments on Friday.<\/p>\n
They include Akintunde Sawyerr as Managing Director, Mr. Frederick Akinfala as Executive Director, Finance and Administration, and Mr. Mustapha Iyal as Executive Director, Operations.<\/p>\n
The appointments are \u201cin line with his determination to secure Nigeria\u2019s socio-economic future by ensuring sustainable higher education and critical skill development for all Nigerian students and the youth,\u201d said the President\u2019s Special Adviser on Media and Publicity, Ajuri Ngelale, in a statement he signed Friday.<\/p>\n
The statement is titled, \u2018President Tinubu appoints management team of the Nigerian Education Loan fund.\u2019<\/p>\n
Friday\u2019s development comes two days after Tinubu signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024.<\/p>\n
He signed the executive bill titled \u201cA Bill for an Act to Repeal the Students Loans (Access to Higher Education) Act, 2023 and Enact the Student Loans (Access to Higher Education) Bill, 2004 to Establish the Nigerian Education Loan Fund as a body corporate to receive, manage and invest funds to provide loans to Nigerians for higher education, vocational training and skills acquisition and for related matters\u201d in the presence of the leadership of the National Assembly, Ministers and Major Stakeholders of Education.<\/p>\n
This followed separate considerations by both the Senate and the House of Representatives of the report of the Committee on Tertiary Institutions and TETFund.<\/p>\n
The 2023 Act had some challenges bordering on governance and management, purpose of the loans, eligibility criteria for applicants, method of application, repayment provisions and loan recovery.<\/p>\n
However, the newly signed version allows for the appointment of a Chairperson of the fund, a Managing Director and two Executive Directors of Finance and Operations each to \u201cassist the Managing Director in performing his duties.\u201d<\/p>\n
The appointees \u201cshall hold office for five years,\u201d the Act read.<\/p>\n
It also made the Loan Fund a body corporate with the ability to enter contracts, including loan agreements with applicants, or to initiate enforcement actions to recover loans from beneficiaries; provisions it lacked hitherto.<\/p>\n
With the appointment of the management team, the President says he expects that the necessary apparatuses are \u201cexpeditiously put in place for the effective take-off of this pivotal Fund for the immediate and lasting benefit of Nigerian students and families in all parts of the country.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
President Bola Tinubu has appointed a managing director (MD) and two executive directors to serve on the management team of the National Education Loan Fund. He gave the approval for their appointments on Friday. They include Akintunde Sawyerr as Managing Director, Mr. Frederick Akinfala as Executive Director, Finance and Administration, and Mr. Mustapha Iyal as […]<\/p>\n","protected":false},"author":43,"featured_media":286682,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"2","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_override_bookmark_settings":{"override_bookmark_button":"0","override_show_bookmark_button":"0"},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[5,2],"tags":[73373,77994,77993,28],"class_list":["post-317656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking","category-national","tag-management-team","tag-mr-frederick-akinfala","tag-nigerian-education-loan-fund","tag-tinubu"],"yoast_head":"\n