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

Beneficiary Repays N2m Student Loan after 40 years

Ondo Deputy Speaker and Majority Leader resign

Ondo Deputy Speaker and Majority Leader resign

Chief of Army Staff Oluyede relocates to Markurdi over Herdsmen Attacks

Chief of Army Staff Oluyede relocates to Markurdi over Herdsmen Attacks

‘How driver lost control’ – Survivor Narrates Accident that killed 22 Kano Athletes

‘How driver lost control’ – Survivor Narrates Accident that killed 22 Kano Athletes

Nigerian Government Announces Public Holidays for Sallah Celebrations

Nigerian Government Announces Public Holidays for Sallah Celebrations

The progress of Kano state is non – negotiable – Engr. Yusuf

Kano Declares 12-day Sallah Holiday for Schools

Kwara mobile court convicts 135 sanitation violators |

Kwara Law Students Appeal for Immediate Release of Law School Scholarship Funds

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud

Daura v U.B.N PLC: Landmark Supreme Court Decision on ‘Estate and Debt’ Responsibilities after Death

Daura v U.B.N PLC: Landmark Supreme Court Decision on ‘Estate and Debt’ Responsibilities after Death

PROHIBITION OF RIBĀ (INTEREST-BASED TRANSACTIONS) IN ISLAMIC FINANCE: CONCEPT AND SIGNIFICANCE

PROHIBITION OF RIBĀ (INTEREST-BASED TRANSACTIONS) IN ISLAMIC FINANCE: CONCEPT AND SIGNIFICANCE

Hajj 2025: Saudi Arabia deports Sheikh Gumi back to Nigeria

Hajj 2025: Saudi Arabia deports Sheikh Gumi back to Nigeria

JUST IN: Wike seals PDP National Secretariat in Abuja

JUST IN: Wike seals PDP National Secretariat in Abuja

JAMB Announces Date to release UTME Result for resit Candidates

99% Scores Below 200 in Resit UTME – JAMB

  • About Us
  • Advertise with Us
  • Editorial Policy
Friday, June 6, 2025
  • Login
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • Life Style
  • Advertise with Us
  • Opinion
  • Campus
No Result
View All Result
iDeemlawful
No Result
View All Result
No Result
View All Result
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • Commentary
  • Editorial
  • Campus
Home Breaking News

Beneficiary Repays N2m Student Loan after 40 years

by iDeemlawful
March 6, 2025
A A
Beneficiary Repays N2m Student Loan after 40 years
FacebookTwitterWhatsapp

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

RelatedPosts

Nigerian Government Announces Public Holidays for Sallah Celebrations

Akpabio, Yahaya Bello to testify as Nigerian Govt files Criminal Charges Against Natasha

Nigerian Government Announces Public Holidays For Easter

Nigerian Government Declares Public Holidays For Eid-ul-fitr Celebration

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.

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

iDeemlawful

iDeemlawful

Related Posts

Chief of Army Staff Oluyede relocates to Markurdi over Herdsmen Attacks
Breaking News

Chief of Army Staff Oluyede relocates to Markurdi over Herdsmen Attacks

‘How driver lost control’ – Survivor Narrates Accident that killed 22 Kano Athletes
Breaking News

‘How driver lost control’ – Survivor Narrates Accident that killed 22 Kano Athletes

Nigerian Government Announces Public Holidays for Sallah Celebrations
Breaking News

Nigerian Government Announces Public Holidays for Sallah Celebrations

The progress of Kano state is non – negotiable – Engr. Yusuf
Breaking News

Kano Declares 12-day Sallah Holiday for Schools

Kwara mobile court convicts 135 sanitation violators |
Breaking News

Kwara Law Students Appeal for Immediate Release of Law School Scholarship Funds

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud
Breaking News

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud

JAMB Announces Date to release UTME Result for resit Candidates
Breaking News

99% Scores Below 200 in Resit UTME – JAMB

Peter Obi attends Pope’s inauguration in Rome to beg Tinubu over Fidelity Bank’s N225bn Debt Crisis – Report
Breaking News

Peter Obi debunk meeting Tinubu in Rome over alleged N225bn Fidelity Bank debt

JAMB Announces Date to release UTME Result for resit Candidates
Breaking News

JAMB Announces Date to release UTME Result for resit Candidates

Hoodlums attacked Pasuma in Osun, sparking tensions
Breaking News

Hoodlums attacked Pasuma in Osun, sparking tensions

Load More

Comments 1

  1. Temim Bashar says:
    9 months 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 © 2019–2025 Deemlawful Media

  • About Us
  • Advertise with Us
  • Editorial Policy

Connect With Us

No Result
View All Result
  • Home
  • News
  • Featured
  • Politics
  • Life Style
  • Advertise with Us
  • Opinion
  • Campus

Copyright © 2019–2025 Deemlawful Media

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