• Latest
  • Trending
Beneficiary Repays N2m Student Loan after 40 years

Beneficiary Repays N2m Student Loan after 40 years

‘Watch Your Tongue’: Onoh knocks Jonathan Over Boko Haram Remark

‘Watch Your Tongue’: Onoh knocks Jonathan Over Boko Haram Remark

JUST IN: Tinubu’s Minister Nnaji Involved in Certificate Scandal

JUST IN: Tinubu’s Minister Nnaji Involved in Certificate Scandal

Zamfara LG Chairman Sparks Buzz After Sharing Phones, Power Banks to Youths (Video)

Zamfara LG Chairman Sparks Buzz After Sharing Phones, Power Banks to Youths (Video)

Jonathan Clarifies Linking Buhari to Boko Haram Crisis Claims

Jonathan Clarifies Linking Buhari to Boko Haram Crisis Claims

Fresh Graduate Gunned Down by Stray Bullet After Collecting NYSC Call-Up

Fresh Graduate Gunned Down by Stray Bullet After Collecting NYSC Call-Up

Refineries: How Dangote Group was chased away from Rivers State

Dangote Offers Sacked Workers 5-years Salary Without Work

Atiku Declares Intention to Quit 2027 Presidential Race

Atiku Declares Intention to Quit 2027 Presidential Race

Sunday, October 5, 2025
  • Login
No Result
View All Result
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • LifeStyle
  • Advertise with Us
  • Opinion
  • Campus
iDeemlawful
No Result
View All Result
iDeemlawful
No Result
View All Result
  • Home
  • News
  • Featured
  • Politics
  • LifeStyle
  • Advertise with Us
  • Opinion
  • Campus
Home Breaking News
Beneficiary Repays N2m Student Loan after 40 years

Beneficiary Repays N2m Student Loan after 40 years

by iDeemlawful
September 8, 2024
in Breaking News
A A
1

The Nigerian Education Loan Fund (NELFUND) has announced the receipt of the sum of N2 million bank draft from a beneficiary of 1970s scheme.

The Nigerian Education Loan Fund (NELFUND) confirmed the receipt of the sum of N2 million bank draft from a Senior Advocate of Nigeria (SAN), Asiwaju Adegboyega Solomon Awomolo, SAN, a beneficiary of the 1970s defunct Federal Government Student Loan Scheme.

Mr. Awomolo, who benefitted from the loan during his undergraduate studies at the University of Ife (now Obafemi Awolowo University) in the 1975/1976 and 1976/1977 academic sessions, repaid the loan in full, according to a statement from the Fund

SeeThese

Tinubu Boasts 12 Big-Wins as Nigeria Marks 65th Independence

FG Declares Public Holiday for Nigeria’s 65th Independence Day

NELFUND Sets October Date to Reopen Student Loan Portal

It said the loan, which at the time amounted to a total of N1,000 for both sessions, was instrumental in helping him complete his law degree.

ADVERTISEMENT

The statement said despite several previous attempts, over the years, to refund the loan, Mr. Awomolo was unable to fulfill the repayment until now.

“In his letter dated 04/09/24 and addressed to the Managing Director/CEO of NELFUND, Mr. Akintunde Sawyerr, Mr. Awomolo expressed his gratitude to the Nigerian government for the opportunity that the student loan provided him, enabling him to pursue and complete his undergraduate studies without financial hardship,” the statement reads.

“He acknowledged the transparency and accountability that NELFUND has demonstrated in its current management of student loans, commending the organization’s efforts to ensure that deserving indigent students across the country can access educational funding.”

The Fund said Mr. Awomolo’s repayment comes as a testament to the lasting impact of the President Bola Ahmed Tinubu (GCFR) initiative and the ongoing relevance of NELFUND in supporting Nigerian students.

“His N2 million repayment serves as full and final settlement of his loan indebtedness, reflecting his dedication to upholding his responsibility to the nation.”

NELFUND said it remains committed to empowering future generations of Nigerian students and ensuring that access to education is available to all, regardless of financial background.

“This nationalistic act, follows a similar gesture announced on 27th August 2024 when another senior Nigerian, repaid his loan in full with the sum of N3,189,000.”

“Mr. Awomolo’s patriotic and honourable gesture is yet another shining example of the enduring value of education and the importance of fulfilling one’s obligation and demonstrates the strength of morality, which still exists amongst Nigerians,” the fund said.

Meanwhile it said the funds will be used to fund the education of students who need the loan now.

The repayment comes two weeks after NELFUND announced that Hon. Lanre Laoshe, a beneficiary of the Federal Government Student Loan Scheme, repaid his N1,200 student loan, received between 1976 and 1979, with the sum of N3,189,217.

According to a statement by the Fund, Hon. Laoshe, a distinguished former member of the House of Representatives and a former Deputy Whip, who, benefited from the Scheme, expressed his deep appreciation for the financial support he received from the Federal Government during his educational pursuit.

Tags: NelfundNigeria Government
Previous Post

FG makes U-turn on age limit for WAEC and NECO

Next Post

Nigerians may end up buying petrol N5,000/litre under Tinubu –Benson Upah

Next Read

JUST IN: Tinubu’s Minister Nnaji Involved in Certificate Scandal
Breaking News

JUST IN: Tinubu’s Minister Nnaji Involved in Certificate Scandal

...

Read moreDetails
Zamfara LG Chairman Sparks Buzz After Sharing Phones, Power Banks to Youths (Video)
Breaking News

Zamfara LG Chairman Sparks Buzz After Sharing Phones, Power Banks to Youths (Video)

...

Read moreDetails
Fresh Graduate Gunned Down by Stray Bullet After Collecting NYSC Call-Up
Breaking News

Fresh Graduate Gunned Down by Stray Bullet After Collecting NYSC Call-Up

...

Read moreDetails
15 Die in Kwara road Accident
Breaking News

Kwara Elders Blast Saraki Over Security Remarks

...

Read moreDetails
President Tinubu arrives Brazil for G20 summit
Breaking News

Tinubu Boasts 12 Big-Wins as Nigeria Marks 65th Independence

...

Read moreDetails
18 Key Highlights from Tinubu’s 65th Independence Day Speech
Breaking News

18 Key Highlights from Tinubu’s 65th Independence Day Speech

...

Read moreDetails
FRSC Chief Orders Crackdown as 5 Officers Killed by Hit-and-Run
Breaking News

FRSC Chief Orders Crackdown as 5 Officers Killed by Hit-and-Run

...

Read moreDetails
FG Declares Friday Public Holiday for 2025 Eid-ul-Mawlid
Breaking News

FG Declares Public Holiday for Nigeria’s 65th Independence Day

...

Read moreDetails
Next Post
Nigerians may end up buying petrol N5,000/litre under Tinubu –Benson Upah

Nigerians may end up buying petrol N5,000/litre under Tinubu –Benson Upah

Oyo warns marketer of illegal diesel sale

Oyo warns marketer of illegal diesel sale

Comments 1

  1. Temim Bashar says:
    1 year ago

    Was interest accrued on it to make the repayment 2 million?

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

iDeemlawful

Copyright © 2019 iDeemlawful.

Useful Links

  • About
  • Advertise
  • Editorial
  • Support

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Copyright © 2019 iDeemlawful.