In a bid to revamp Nigeria’s education financing landscape, President Bola Tinubu has sanctioned the appointment of a managing director and two executive directors to steer the National Education Loan Fund (NELFund).
Heading the team is Akintunde Sawyerr as Managing Director, alongside Mr. Frederick Akinfala as Executive Director, Finance and Administration, and Mr. Mustapha Iyal as Executive Director, Operations.
According to Ajuri Ngelale, the President’s Special Adviser on Media and Publicity, these appointments mark a strategic move to bolster sustainable higher education and skill development nationwide.
This development follows Tinubu’s recent enactment of the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, aimed at addressing governance and operational challenges plaguing the 2023 Act.
Under the new legislation, the Fund gains corporate status, enabling it to engage in contractual agreements, including loan disbursements and recovery procedures.
With these reforms, Tinubu aims to streamline the loan application process, eligibility criteria, and repayment terms, fostering broader access to educational financing for Nigerian students and youth.
