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Renewed Hope: N32b Student Loan Scheme – Tinubu kicks off payment as 164,000 students register for the program
With a signal from President Bola Ahmed Tinubu, the Student Loan Scheme, one of the cardinal programmes of the administration, commenced yesterday.
The N32 billion made available for the programme will be given as loans to successful applicants.
According to the Nigeria Education Loan Fund (NELFUND) – the agency running the scheme, 103,000 successful applications were received.
It said 164,000 students were registered between May 25 when the portal opened and July 17.
The President gave out dummy cheques to students and some vice-chancellors to symbolically kick-start the scheme.
The Student Loan Scheme is a novelty meant to make loans available to indigent students or those unable to pay their fees so that they do not drop out of school.
“No student will drop out of school again just because he has no means to pay the fee,” the President had declared while announcing the scheme.
Beneficiaries’ tuition will be paid directly to the institution, while only the stipend will be paid to successful applicants.
President Tinubu declared education as the biggest weapon against poverty and the most effective battle axe to fight insecurity.
He said: “What I believe is that education is the greatest weapon against poverty in any society.
“Without education, there is no vision, there is no development, you cannot successfully conquer insecurity.
“Education is that light at the end of the tunnel. No matter how sluggish you move, it will give you the light and the hope.
“We are investing; we don’t want to try ignorance as an alternative, we want education from foundations to the topmost level.
“Today (yesterday), I am fulfilling one of my greatest campaign agendas. You cannot find your way if you are not well educated, you cannot even fight terrorism and banditry.
“If we have a successful inclusive loan that is necessary for our people to get educated and invest in their own lives, we would have built a fair society and a promise that we will earn a banner without stain to our children.”
NELFUND’s Executive Secretary/Managing Director Akintunde Sawyerr restated that the scheme aims to empower youths by removing financial barriers to their academic pursuit.
Reeling out NELFUND’s progress since the launch, Sawyerr said the Fund got key amendments to its Establishment Act on April 3, 2024, and secured dashboard metrics on May 25.
He explained that students applied for two types of loan – educational fees which are sent directly to their institutions of learning and application for upkeep fund, which serves as their monthly stipend
“Institutions collected cheques for multiple applications but students cannot get stipend unless their fees are picked by NELFUND,’’ said Sawyerr.
Sawyerr told reporters after the launch that there was a higher demand for loan from students of tertiary institutions in the North.
He attributed the trend to their proactive approach and effective networking.
However, he noted that there is growing awareness and interest by students in the South, despite initial scepticism.
The NELFUND boss added that universities have the highest demand for loans, followed by polytechnics and teacher training colleges.
He said: “Institutions in the north have been very proactive in supporting and helping their students and in providing their data to us.
‘’They seem to be very well organised in terms of networking.
“In the Southern part of the country, there’s growing awareness and there’s growing interest.
“I think there’s been a lot of scepticism, generally and I think the most sceptical parts of the country are in the South. They question everything: is it true, is it real, is it a scam?
“This disbursement programme is to say that ‘this is NO FUND, this is NELFUND.’
“We’re trying to ensure that people know that this is not a trick, it’s not a game.
“So, I think we’ll see the scepticism that you can find mainly in the Southern part begin to disappear when we start paying out.”
He added: “In terms of the three levels of institutions, the universities are the ones with the highest demand for the loans.
“It’s followed by the polytechnics and then the teacher training colleges.’’
The Executive Secretary said private institutions are excluded from the scheme because they charge higher tuition.
He thanked President Tinubu ‘’for having the vision and the courage to do what he has just done.’’
“I am sure you’ve all heard that fortune favours the brave and this courageous move will bring fortune not just to him, but to the entire nation,” he said.
National Association of Nigerian Students (NANS) President Lucky Emonefe described the take-off of the scheme as a new dawn for students.
“Today we are excited. Nigerian students are happy that the dream has come true.
“It was once a dream; it has become an act and today is the presidential launch and disbursement,’’ he said.
Present at the launch were Senate President Godswill Akpabio, Speaker of the House of Representatives Abbas Tajudeen; Wale Edun (Minister of Finance and Coordinating Minister of the Economy), Abubakar Bagudu (Budget and Economic Planning minister), Mamman Tahiru (Education minister) and Jamila Bio-Ibrahim (Youths minister).
Chairman NELFUND board Jim Ovia thanked the President for the privilege to serve.
He referred to the United Nations Sustainable Development Goals, of which education is number four.
“The President has recognised that. We are all grateful to him for NELFUND,” Ovia said.
Central Bank of Nigeria (CBN) Governor Olayemi Cardoso, Federal Inland Revenue Service (FIRS ) Chairman Zach Adedeji, Acting Executive Secretary of National Universities Commission (NUC) Chris Mayaiki and Joint Admissions and Matriculation Board Chairman Ishaq Oloyede were also in attendance.
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BREAKING: Tinubu Names Tunji Disu Acting Inspector General After Egbetokun’s Exit
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President Bola Tinubu has accepted the resignation of the Inspector-General of Police, Kayode Egbetokun, and approved the appointment of Tunji Disu as Acting Inspector-General of Police with immediate effect.
Our correspondent had earlier reported that Egbetokun tendered his resignation letter on Tuesday, citing pressing family considerations.
Appointed in June 2023, Egbetokun was serving a four-year term scheduled to conclude in June 2027, in line with the amended provisions of the Police Act.
In a statement issued on Tuesday by his Special Adviser on Information and Strategy, Bayo Onanuga, the President received the letter earlier on Tuesday and expressed appreciation for his service to the nation.
He also commended Egbetokun’s “decades of distinguished service to the Nigeria Police Force and the nation,” acknowledging his “dedication, professionalism, and steadfast commitment to strengthening internal security architecture during his tenure.”
“In view of the current security challenges confronting the nation, and acting in accordance with extant laws and legal guidance, President Tinubu has approved the appointment of Assistant Inspector-General of Police Tunji Disu to serve as Acting Inspector-General of Police with immediate effect.
“The President is confident that AIG Disu’s experience, operational depth, and demonstrated leadership capacity will provide steady and focused direction for the Nigeria Police Force during this critical period,” the statement read.
It added that in compliance with the provisions of the Police Act 2020, the President will soon convene a meeting of the Nigeria Police Council to formally consider Disu’s appointment as substantive Inspector-General of Police, after which his name will be forwarded to the Senate for confirmation.
The President reaffirmed his administration’s commitment to enhancing national security, strengthening institutional capacity, and ensuring that the Nigeria Police Force remains professional, accountable, and fully equipped to discharge its constitutional responsibilities.
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Breaking : Nigeria Gets New Electoral Act as Tinubu Signs 2026 Reform Bill
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President Bola Tinubu has signed the Electoral Act 2026 (Amendment) into law, days after the Independent National Electoral Commission (INEC) released the timetable for the 2027 general elections.
The signing ceremony took place at the State House, Abuja, at about 5:00pm on Wednesday, with principal officers of the National Assembly in attendance.
The National Assembly had on Tuesday passed the Electoral Act 2026 (Amendment) Bill.
The latest amendment comes amid intense public debate over the electronic transmission of election results in real time.
Last week, protests erupted at the National Assembly complex as civil society organisations and opposition figures mounted pressure on lawmakers to mandate live transmission of results from polling units directly to INEC’s central server.
The protesters argued that real-time transmission would reduce result manipulation and strengthen public confidence in the electoral process.
However, the ruling All Progressives Congress (APC) and some stakeholders have raised concerns about the technical feasibility of live transmission, particularly in communities with weak telecommunications infrastructure. They have argued for a phased or hybrid approach that would allow manual collation where electronic systems fail.
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EFCC Extends El-Rufai’s Stay in Custody Amid ₦432bn Probe
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Former Kaduna State Governor, Nasir El-Rufai, on Tuesday spent the second night in the custody of the Economic and Financial Crimes Commission, as his lawyer, A.U Mustapha (SAN), pushes for his release on bail.
There are, however, indications that the commission may seek a remand order to extend his stay in custody to enable him to respond to questions posed by investigators handling his matter.
The former governor arrived at the EFCC headquarters in Abuja on Monday around 10 a.m. for questioning in connection with an alleged N432bn corruption probe. He was, however, detained at the commission, where investigators continued to grill him.
An official of the commission who pleaded anonymity said the anti-graft agency was considering obtaining a remand order after the expiration of the hours allowed by law to enable investigators conclude questioning him.
“Forget the speculations being peddled on social media that he has been released. He has not. El-Rufai is still with us and will be spending another night in custody.
“He is very much with us and will remain so because the investigators are considering getting a remand order after the expiration of the 48 hours allowed by law.
“The investigators need some time with him to answer questions arising from his eight years as governor in Kaduna State,” the source said.
Speaking in a telephone conversation with The PUNCH on Tuesday, El-Rufai’s counsel, Mustapha, confirmed that the former governor remained with the anti-graft agency, while insisting that his client had fully cooperated with investigators.
He described his client as a responsible citizen who is not a flight risk if granted bail.
Mustapha said, “Well, as a responsible citizen, he was invited and, true to his word, he honoured the invitation.
“As we speak, he is still with the EFCC. He is cooperating to the best of his capacity, and we hope that the EFCC, given its integrity, will be kind enough to admit him to bail because he is presumed innocent, and I am sure if he is granted bail, he will not jump bail.
“He is a responsible citizen, and everybody knows him. He came to Nigeria on his own volition. He wrote a letter that he was going to honour the EFCC invitation, and he kept his word as a man of integrity. We’re hopeful that very soon he will be granted bail.”
When asked about the specific allegations against his client, Mustapha declined to offer details.
“You’re asking the right question from the wrong person. That question can only be answered by the EFCC and not by me. I would just be speculating, and lawyers don’t do that.”
Pressed further on whether he witnessed parts of the interrogation and what it was about, Mustapha responded, “That would be prejudicial. It’s a confidential matter and not meant for public consumption.”
The EFCC’s interrogation is linked to the report of an ad hoc committee of the Kaduna State House of Assembly set up in 2024 to probe finances, loans, and contracts awarded between 2015 and 2023 during El-Rufai’s administration.
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Rep backs real-time electronic transmission of election results
The committee, chaired by Henry Zacharia, had alleged that several loans obtained during the period were not utilised for their intended purposes.
While presenting the report, the Speaker, Yusuf Dahiru Leman, claimed that about N423bn was allegedly siphoned under the former governor’s administration.
The committee recommended the investigation and prosecution of El-Rufai and some former cabinet members over alleged abuse of office, diversion of public funds, money laundering, contract awards without due process, and reckless borrowing.
The Assembly subsequently forwarded petitions to the EFCC and the Independent Corrupt Practices and Other Related Offences Commission.
El-Rufai has denied the allegations, describing the probe as politically motivated, and insisted that loans obtained during his tenure were properly appropriated and used for infrastructure, education, healthcare, and security.
On Monday, an EFCC source said the commission had been investigating the matter for about a year, noting that suspects are usually invited after investigations have reached an advanced stage.
“The commission has been investigating him for about a year now. As a commission, we don’t just rush to invite suspects. Persons accused are always the last; that is, after we might have done our investigation to an advanced stage.
“We are investigating him on the allegations against him by the Kaduna State Assembly,” the source said.
Meanwhile, in a separate development, the Department of State Services has filed criminal charges against El-Rufai before the Federal High Court in Abuja over alleged unlawful interception of the phone communications of the National Security Adviser, Nuhu Ribadu.
The three-count charge, marked FHC/ABJ/CR/99/2026, was filed under the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024, and the Nigerian Communications Act, 2003.
According to the charge sheet, El-Rufai allegedly admitted during a February 13, 2026, appearance on Arise TV’s Prime Time Programme that he and unnamed associates unlawfully intercepted Ribadu’s communications.
Count One alleged that El-Rufai “did admit during the interview that you and your cohorts unlawfully intercepted the phone communications of the National Security Adviser, Nuhu Ribadu,” an offence said to be punishable under Section 12(1) of the Cybercrimes Amendment Act.
Count Two accused him of acknowledging knowledge of an individual involved in the alleged interception without reporting it to security agencies, while Count Three alleged that he and others still at large used technical equipment that compromised public safety and national security.
The prosecution further claimed that the alleged act, reportedly admitted during the television interview, caused “reasonable apprehension of insecurity among Nigerians.”
He is yet to be arraigned.
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