FG Suspends Student Loan Indefinitely

President Bola Tinubu-led government on Tuesday announced its administration plan to postpone the inauguration of the Nigerian Students Loan Scheme’s indefinitely.

CityMirrorNews reports that this is coming just 48 hours before it is scheduled to launch on Thursday, March 14.

Akintunde Sawyer, Executive Secretary of the Nigerian Education Loan Fund (NELFUND), made this known while speaking in an interview with AriseTV.

According to Sawyer, the loan, which was officially scheduled to debut on Thursday, has been rescheduled due to some launch-related modifications.

He said: “Unfortunately, I won’t be able to commit to a specific date. We are sort of waiting to ensure that all the stakeholders are aligned to make sure that nobody is blindsided, then we can actually roll this out in a meaningful, comprehensive, wholesome and sustainable way.”