News

FG Lists Conditions For Student Loan Applicants

Published

6 months ago

January 23, 2024

The 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.

“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.

“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.

“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!”

News

Ifeanyi Ubah: Peter Obi Mourns, Reveals Last Discussion With Late Senator

Published

47 mins ago

July 27, 2024

Editor

Labour Party presidential candidate in the 2023 general elections, Peter Obi, has mourned the passing of Senator Ifeanyi Ubah.

Recall that Ifeanyi Ubah died in London on Saturday

Reacting to the development, Obi, in a statement on his X handle, said Ubah’s death was a rude shock.

“I received a rude shock this morning, the news of the death of my dear younger brother, and Senator Representing Anambra South Senatorial District, Senator Ifeanyi Ubah.”

Obi recalled that he was welcomed by Ubah after attending the burial of Chief Pius Onwuzo in Nnewi, Anambra State, on July 12th.

Obi also prayed that God should grant Ubah eternal rest.

“Senator Ubah personally welcomed me at the burial and requested that I visit his house for lunch, to which I pleaded with him to reschedule to another date as I already had several engagements for the day.

“During our discussions on the state of the nation, he told me that he now understands my commitment to the progress of humanity and that he aligns with it.

“He assured me that, despite our party differences, we would work together as a family, in serving our people.

“Similarly, despite party differences, I commended him for his contributions to a better humanity through his Ifeanyi Ubah Foundation, via which he cared for the less privileged in society, by investing in their education and health and pulling people out of poverty. I urged him to continue in that direction.

“May God Almighty who called him home, at this time, forgive his sins and grant him eternal rest, and grant his family, the entire Anambra South Senatorial District; Anambra State; Nigeria; and all of us, the fortitude to bear this sad irreplaceable loss.

“God Almighty protect and bless his family always.”

News

BREAKING: Senator Ifeanyi Ubah Is Dead

Published

4 hours ago

July 27, 2024

Editor

Nigerian Senator who represents Anambra South, and an All Progressives Congress (APC) stalwart, Senator Ifeanyi Ubah, is dead.

Ubah died in a hotel in London, the United Kingdom. He had left for London two days ago.

Ubah was a Nigerian Politician, entrepreneur and businessman who until his death served as the CEO of Capital Oil (CCO), which he founded in 2001.

The deceased was married to Uchenna, a Business Administration graduate from Ahmadu Bello University in Nigeria, with whom he had 5 children. He also ran a foundation which is named after himself; Ifeanyi Ubah Foundation.

In September 2022, Ubah escaped assassination when he was attacked by gunmen on his way to Nnewi in Enugwu-Ukwu in Anambra State. His convoy was shot at and at least 5 persons, including two policemen, were killed.

He survived as the vehicle he was riding in was bulletproof.

News

Why Anti-subsidy Protests Didn’t Turn Violent Under Jonathan – Ex-DSS Director

Published

5 hours ago

July 27, 2024

Editor

A former Director, Department of State Services, Mike Ejiofor, has said the protest staged to kick against attempts by former President Goodluck Jonathan-led government to remove petrol subsidy in 2012 didn’t turn violent partly because of ‘the body language’ of the former President.

Ejiofor, who is the President of the Alumni Association of the National Institute for Security Studies, also said that the protesters also didn’t go irate because the situation in the country was not as bad as it is presently.

The former DSS boss gave the explanation while speaking on the planned #EndBadGovernance August 1 – 10 protests, and the moves of government to dissuade the organisers from storming the street.

Recall the DSS on Thursday warned the organisers of the planned nationwide protests against proceeding with the action, saying it uncovered a plan “by some elements to infiltrate the protest and use it to cause chaos and extreme violence in the land.”

Also, the military and police have also warned against the protest scheduled to be held from August 1 to 10 in response to the economic hardship experienced in the country.

“The level of violence being envisaged can only be described as a state of anarchy. The armed forces on its part will not stand by and allow anarchy to befall our nation,” defence spokesman, Major General Edward Buba said on Thursday.

Meanwhile, speaking during an interview on Arise TV Morning Show, Ejiofor on Friday while answering question on why the protest of 2012 was not subjected to threats and a clampdown by security agencies, said it was partly because of the body language of Jonathan who was the then president and the situation of the country as of 2012.

He, however, said the present situation in the country has left a hard condition posing fears that the planned protest if staged, has the tendency to be hijacked because people are now “hungry and desperate”.

“The 2012 protest didn’t turn violent, one, because of the body language of the sitting president then. He allowed everything to go and the situation was not as bad as what we have now. Now, it can be exploited because people are hungry, desperate and want to use anything to vent their anger,” he said.

Arguing that while the right of the people to protest remains sacrosanct, the fear of the protest being hijacked remains high, and could be exploited by people who may seize the situation to push their personal interest.

“It is their legitimate right to protest as enshrined in the constitution. But I think they (organisers of protest) did us a lot of good by giving sufficient notice to the government of their intentions to go on protest and you can see the grounds of appeals from various stakeholders, interests groups appealing to them to shelve the plan.

“No matter how good their intentions are, I believe this will be hijacked eventually,” he said.

Maintaining that “the fear is very high that this protest will be hijacked”, he added that “Some people see this government as the best government whatever because of their personal interest not because of national interest… they would also represent their own interest, not the interest of the government, so that’s why we are afraid it might be hijacked.

“Some people might tell you that this APC government is not doing well, others will tell you that this is the best government.

“So, you have conflicting interests. That is why it is necessary that for now because of the enormous security challenges we have, we should not compound our problems by engaging in more protest.”

Recalling the #EndSars 2020 protest which according to him led to properties being destroyed with losses incurred by the nation and individuals, he added that though the organisers pf the #EndBadGovernance protest may have a course to protest, considering the hardship in the country, people of ulterior motives may hijack the process.

“Looking at their demands, we will all agree that there is economic hardship in the country, there is hunger and anger in the land, but again people who are more hungry now will explore the opportunity to loot people’s shops and it will eventually turn violent and that’s why we will continue to appeal to organisers to shelve the plans and give government time to look at it,” he said.

On the warnings by security agents, Ejiofor said the security agents have the duty to respond with force should the protest turn violent.

“Nobody is saying they should not protest but if you protest and it turns violent, the government has the statutory mandate of protecting the state and the innocent citizens. The point remains that people have the right to protest as long as it doesn’t turn violent,” he said.

He, however, warned against comments by some aides of the President Bola Tinubu which he described as “provocative” and could engender provocations with ethnic colouration and religious connotations.

“There are other issues agitating my mind; the issue of some provocative statements that the president’s aides are making that is likely to provoke people, giving it political meaning, ethnic colouration, religious connotations and what a view. These are not helping issues,” he said.

He called on President Tinubu not just to stop at consulting with interest groups in the country, but to also extend the reach to the common Nigerians at the grassroots while stressing the need for the President to address the nation in a broadcast.

“The ordinary man in the street needs also to know what is happening because some people do not even have electricity to look at the nation to know what is going on. I think the president needs to directly speak to the people, maybe make a national broadcast, this will help in relaxing the situation,” he said

Maintaining a similar position, the National Coordinator, the Grassroots Mobilisation Initiative and former spokesperson for the Coalition of Northern Groups, Sama’ila Musa, called for dialogue, submitting the presidency should “come out and address the people and sympathise with them.”

Also featuring on Arise TV morning show on Friday, Musa mentioned that current cases of rampage and looting of goods of private individuals, particularly as experienced in the Northern part of the country pose a risk of what may become of the protest should it go on.

“There is so much anger in the land. A lot of people are not happy because of some kinds of hardship in the land. It’s obvious people are complaining, prices are rising and all that, and people are suffering and you believe with me that is why people are actually calling for this protest.

“We are afraid with the level of anger right now in the Country, especially in the North as it is, we’ve seen cases where truckloads of food stuffs belonging to traders, maybe got spoilt somewhere on the road and people just move in and start offloading it, helping themselves out and that’s without riot. How much more what’s going to happen when you call for a mass protest, to what extent can the police curtail the excesses when you have situations like this?”, he queried.

He mentioned the situation may degenerate to criminal elements of the protesters “going to start looting people’s properties and vandalising ordinary citizen’s properties, carting away their goods.”
PUNCH