President Bola Tinubu has appointed a new management team for the National Education Loan Fund (NELFund).
This comes in conjunction with the recent signing of the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024.
The appointed management team comprises Akintunde Sawyerr as Managing Director, Mr. Frederick Akinfala as Executive Director of Finance and Administration, and Mr. Mustapha Iyal as Executive Director of Operations.
The appointment is said to be “in line with his determination to secure Nigeria’s socio-economic future by ensuring sustainable higher education and critical skill development for all Nigerian students and the youth,” said the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, in a statement he signed Friday.
According to Ajuri Ngelale, the President’s Special Adviser on Media and Publicity, Tinubu’s commitment to securing Nigeria’s socio-economic future is evident through these strategic appointments.
The newly signed bill, which repeals the previous 2023 Act, addresses various challenges faced by the fund, including governance issues, eligibility criteria, and loan recovery methods.
Under the revised legislation, the NELFund is designated as a body corporate with the authority to enter into contracts and initiate enforcement actions to recover loans from beneficiaries.
Additionally, the Act specifies the appointment of a Chairperson, a Managing Director, and two Executive Directors of Finance and Operations, each serving a five-year term.
