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The Nigerian Education Loan Fund, an intervention agency established by the Federal Government, has projected that the number of beneficiaries for student loans could reach an estimated 2.1 million.
The Managing Director of NELFUND, Akintunde Sawyerr, disclosed this on Tuesday at the inauguration and induction of members of the SERVICOM unit and committee in Abuja.
His projection comes one week after data obtained from NELFUND showed that it has disbursed over N104bn to 613,734 students from Nigerian tertiary institutions since inception.
The disbursed funds encompass institutional fees paid directly to the institutions of applicants and upkeep loans paid directly to the account number provided by the applicants.
The House of Representatives has raised concerns about the ongoing cash scarcity in commercial banks, citing its adverse effects on consumer spending and business investment. In a motion by a member of the house, Uguru Emmanuel, the House noted that despite the CBN's December 2022 directive setting cash withdrawal limits at N500,000 for individuals and N5 million for corporate entities, many banks restrict withdrawals to as low as N10,000 or […]
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