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FG Lists Conditions For Student Loan Applicants
Published
4 months agoon
By
EditorThe Federal Government, on Monday, said the Education Tax under the Federal Inland Revenue Service would serve as one of the funding sources for the recently established Student Loan Scheme.
This was as it detailed the conditions that an applicant must meet to qualify for the loan.
It said the scheme would be fully automated to ensure zero human involvement in the application and processing of the loans to applicants.
“That is why the education tax fund is one of the sources of funding that we will use to execute this programme,” said FIRS Chairman, Dr Zacch Adedeji, when he addressed State House Correspondents after briefing President Bola Tinubu on the impending launch of the scheme at the Aso Rock Villa on Monday.
Barely one week earlier, the Minister of State for Education, Dr Yusuf Sununu, revealed that the scheme was on track to start in January 2024 as the President promised last October.
Adedeji, who spoke alongside the Executive Secretary of the Student Loan Board, Dr Akintunde Sawyerr, said channeling the education tax into the scheme was the administration’s way of being accountable to Nigerian taxpayers.
READ ALSO: BREAKING: Tinubu Signs Student Loan Bill Into Law
“This is in fulfillment of Mr President’s promise that we will make education accessible to all. This is one of the schemes where we will be applying the education tax that we collect.
“It is a way of being accountable to the taxpayers because the essence of education tax is to consolidate and restore education integrity and quality. In fulfilling that part of the Act, education tax fund is one of the sources of funding that we will use to execute this programme,” he said.
Meanwhile, the Executive Secretary of the Scheme, Sawyerr, who gave his first public briefing on the programme said eligible applicants would route their requests through the loan app or website, affirming that the scheme would be devoid of human involvement.
He itemised the application process, saying prospective candidates must avail their JAMB registration number, date of birth, National Identification Number and Biometric Verification Number, among others.
“The applicant will go on to a portal, or they will engage with the app. They will have to put in certain pieces of information that make them eligible, such as their JAMB number and, of course, the tie-in to their date of birth.
“Further pieces of information include their NIN, which confirms that they are Nigerians. This loan scheme is being paid for by Nigerian taxpayers. So, it’s for Nigerians and the NIN helps verify and qualify them as such.
READ ALSO: Tinubu Announces Commencement Date For Students Loan
“Their BVN is for financial inclusion because this scheme in itself will, at some point, be able to empower students, so we need to know they have bank accounts. We need to know where their accounts are to be able to access those accounts.
“It will also have their matric number and admission number so that we can firmly establish which institution they are going to because one of the key elements of this is that once we have received applications and those applications are approved, the fees or the tuition requirements in terms of financials will be transferred directly to the institution. That in itself has benefits for the institution,” The Executive Secretary explained.
While likening the loan to a bridge linking the desire for further education and the funds to do so, Sawyerr explained that the FG was keen to ensure that young Nigerians do not fail to acquire tertiary education simply because they lack the funds.
He said, “The intention behind it is to ensure that the reason for not being able to go on and further your education at a tertiary level is not for the lack of finance. This law seeks to bridge the gap between the desire to study and the capacity to go further. It seeks to bridge that gap that is created by lack of finance and funding.”
The Loan Chief explained that the scheme would enable Nigerians to pick a career trajectory of their choice rather than being forced into other paths because they were unable to acquire vital education.
He also affirmed that the loan would help to stem the dangerous journey undertaken by Nigerian youths across the Sahel to Europe in search of a better life.
READ ALSO: FG Announces N75 billion Interest-free Loan For 1.5m Market Women
“Some of the opportunities provided by the scheme include enrolling intending students in teacher training programmes and vocational skills.
“The programme provides opportunities for Nigerian students who want to go into the academic and get a university degree or perhaps want the technical side and acquire some vocational skills and also in the teacher training space.
“This intervention will affect the lives of many Nigerian youths because that’s usually the bracket to further their education. It will enable us to intervene and support families, particularly the needy,” he explained.
The Executive Secretary disclosed that the school fees for successful applicants would be transferred directly to their institutions.
On June 12, 2023, President Bola Tinubu signed the Student Loan Bill into law. The move was in “fulfilment of one of his campaign promises to liberalise funding of education,” a member of the then Presidential Strategy Team, Dele Alake, told journalists. The law enables indigent students to access loans at interest-free rates.
Declaring the 29th session of the annual Nigeria Economic Summit in Abuja open on October 23, 2023, the President said, “By January 2024, the new Students Loan Programme must commence. To the future of our children and students, we’re saying no more strikes!”
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News
JUST IN: Again, Aircraft Skids Off Runway At Lagos Airport
Published
6 hours agoon
May 11, 2024By
EditorBarely 16 days after Dana Air was shut down by the Nigeria Civil Aviation Authorities, another aircraft belonging to XEJET Airlines also skidded off the runway and landed in the grass at the Murtala Muhammed Airport, Lagos on Saturday.
Following this development, the Federal Airports Authority of Nigeria has shut the 18/Left runway of the airport
The Airbus with registration 5N-BZZ with 52 passengers on board departed Abuja and landed in Lagos at 11.29 am.
READ ALSO: JUST IN: Aircraft Belonging To Dana Air Skids Off Lagos Airport Runway
Just last month, Dana MD-82 aircraft was involved in a skidding off of the runway, necessitating the Minister of Aviation and Aerospace Development, Festus Keyamo, to order the suspension of the carrier for a comprehensive auditing.
Last year, in November, two aircraft from two different airlines skidded off the runway, in one week.
Aero Contractors, flight NG 119 with a registered Boeing 737 aircraft 5N-BYQ from Lagos to Abuja had a total of 133 passengers on board.
All passengers were safely evacuated through a controlled disembarkation.
READ ALSO: Tragedy Adverted As ValueJet’s Aircraft Skids Off Runway
The temporary closure of the runway by FAAN limits the airport to one single runway which is expected to lead to aircraft delays and landing.
The spokesperson of the Nigerian Safety Investigation Bureau, Bimbo Olajide, confirmed that an aircraft belonging to Xejet Airlines skidded off the runway of the domestic wing of the Murtala Muhammed Airport on Saturday.
She stated that a team had been deployed to the site of the incident.
“Our teams are there and on top of the matter. But whether or not the runway will be reopened today, i cannot immediately answer questions on that.” NSIB spokesperson told PUNCH Online.
News
Ededuna Obaseki’s Descendants Congratulate King Charles On Coronation Anniversary
Published
8 hours agoon
May 11, 2024By
EditorThe entire direct descendants of World War II Veteran and a recipient of World War II Medals of Honour, Capt. Ededuna Walter Obaseki, has congratulated His Majesty King Charles III on his first coronation anniversary.
A congratulatory message signed by Mercy Ededuna Obaseki on behalf of The descendants, and made available to INFO DAILY prayed God to bless the King with long life, honour, and good health.
“We wish His Majesty good health so that he can effectively pilot the affairs of The United Kingdom of Great Britain, Northern Ireland and The Realms of The Commonwealth,” the message added.
The descendants, while thanking the British government for preserving the records of their late father, urged the King of the Great Britain to “start soon, the Colonial Legacy review in Nigeria because it is so important to us.”
READ ALSO: World War II Veteran, Obaseki’s Descendants Felicitate Oba Of Benin On Igue Festival Celebration
While approaching efforts being made by His Majesty to review Colonial Legacies, the descendants said in hearing the King’s move to review it, “our Joy knew no bounds, and this feeling of great Joy increased more abundantly when we saw that indeed he was already doing this.”
“We watched with great happiness and excitement, The King presenting replacement World War II Medals in Kenya to the Veterans of The Second World War.
“We hope the King will also take action soon in actualising and fulfilling our dreams that both the British and the Nigerian government meet our demands that our father’s entitlements and work benefits be paid to we his direct descendants. It is also our prayer that the King empowers and supports us in our quests and in the present circumstances that we are in right now, your quick help is highly solicited.
“Our father Ededuna Walter Obaseki was a captain of the British Merchant Navy, a World War II Veteran and a recipient of The World War II Campaigns and Gallantry Medals of Honour. The 1939-1945; Atlantic Star; Italy Star; British War Medals were
Awarded to our father Ededuna Walter Obaseki and other officers and Seamen of the British Merchant Navy by HRM King George VI.
READ ALSO: World War II Veteran; Obaseki’s Descendants Congratulate King Charles III On His Coronation
“Obaseki was a pioneer industrialist, governor, prime minister and head of government, and he handled the British administration in Southern Nigeria that brought great success to Nigeria in many areas like modern agriculture, education, healthcare, and maritime Shipping. The forming, shaping and developing of the navies during the time of the boom that both countries enjoyed and its citizens can still speak well of in sheer glories of remarkable advancement today.
“We are aware of some attempts by the Federal Government of Nigeria particularly in 2014 to help bring out and make known, the legacies of those that played active and very important roles in making this country Nigeria to be great, especially the Merchant Navy Officers who were the first ambassadors, head of administration and head of the British Board of Trade that brought about very positive growth and boom in Nigeria through the exports of timber, rubber, cocoa and palm produce, etc.
“We also want the distinguished senators and honourable members of the House of Representatives of Nigeria to grant our request that our father’s entitlements and work benefits for service in Nigeria to be paid to us by the Nigerian government. We need them (The Law Makers) to use their voice to also make our demands from The British Government.”
News
Banditry: Niger Speaker To Marry Off 100 Female Orphans
Published
10 hours agoon
May 11, 2024By
EditorThe Speaker of the Niger State House of Assembly, Abdulmalik Sarkindaji, has announced plans to marry off 100 female orphans who lost their parents to banditry attacks in Mariga Local Government Area.
Sarkindaji disclosed this to journalists in Minna, the state capital on Friday.
The Speaker pledged to pay the dowries for the bridegrooms and has procured all necessary materials for the mass marriage ceremony.
Accordingly, the girls who would be married off were carefully selected from the 170 girls whose names were submitted. Sarkindaji stated, without disclosing the age range of the orphaned girls.
READ ALSO: Court Stops Speaker, 24 Others Loyal To Wike From Parading As Assembly Members
The Speaker, who represents the Mariga Constituency, described the initiative as part of his constituency empowerment project, “aimed at alleviating the suffering of the impoverished.”
Sarkindaji revealed that the Niger State Governor, Mohammed Umar Bago, and the Emir of Kontagora, Alhaji Mohammed Barau, would serve as guardians to the female orphans during the mass marriage ceremony.
The Kano State Commander General of the Hisbah Board, Sheikh Aminu Daurawa, is expected to attend the event, slated for May 24 at Bangi, the headquarters of Mariga Local Government Area.
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