Tinubu appoints management team for Education Loan Fund

President Bola Tinubu has appointed a management team for the Nigerian Education Loan Fund (NELFUND).

NELFUND is a creation of the National Student Loan Act, empowered as a legal entity to provide loans to eligible Nigerians for their education expenses, including tuition, fees, and living costs while studying in approved tertiary institutions and vocational training centres within Nigeria.

On Wednesday, April 3, 2024, Tinubu signed into law the amended National Student Loan Bill, which seeks to cater to students from federally or state-owned tertiary and government-approved vocational institutions.

Meanwhile, as announced in a statement by presidential spokesman Ajuri Ngelale on Friday, April 5, 2024, Tinubu confirmed Akintunde Sawyer as the Managing Director and Chief Executive Officer of the fund.

Also, the President appointed Frederick Oluwafemi Akinfala as the Executive Director of Finance and Administration and Mustapha Iyal as the Executive Director of Operations.

Ngelale said the move reflects the President's determination to secure Nigeria's socio-economic future.

"In line with his determination to secure Nigeria’s socio-economic future by ensuring sustainable higher education and critical skill development for all Nigerian students and the youth.

“With the appointment of the management team, the President expects that the necessary apparatuses are expeditiously 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,” the statement read.