Tinubu Appoints Three-man Management Team for Nigerian Education Loan Fund

Deji Elumoye in Abuja

Two days after signing the Student Loan Amendment Bill into law, President Bola Tinubu yesterday approved the appointment of three qualified Nigerians to serve on the management team of the Nigerian Education Loan Fund (NELFUND).

According to a statement issued by presidential spokesperson, Ajuri Ngelale, the new appointments was in line with President Tinubu’s determination to secure Nigeria’s socio-economic future by ensuring sustainable higher education and critical skills development for all Nigerian students and the youth.
NELFUND’s new management team include Mr. Akintunde Sawyerr, Managing Director/CEO; Mr. Frederick Oluwafemi Akinfala, Executive Director, Finance and Administration abd Mr. Mustapha Iyal, Executive Director, Operations.

With the appointment of the management team, the President expects that the necessary apparatuses are expeditiously put in place for the effective take-off of this pivotal Fund for the immediate and lasting benefit of Nigerian students and families in all parts of the country.
Tinubu had on Wednesday signed the Student Loans (Access to Higher Education) (Repeal and Re-enactment) Bill 2024 into law, expressing his determination to give education the proper attention.

Speaking during the brief signing ceremony, held in his office at the State House, Abuja, Tinubu had said the new law was passed to ensure that no Nigerian will miss out on quality education, not on account of poverty or lack of opportunity.

The new law, which was structured out of one of Tinubu’s social safety net plans to reorder how wealth was distributed in the country, is aimed at emphasising his belief that education is the primary tool to effectively fight poverty.  

The Student Loan (Access to Higher Education) Act 2023 was signed into law by President Bola Ahmed Tinubu GCFR on 12th June 2023, with the Act establishing the Nigerian Education Loan Fund (NELFUND) to supervise, coordinate, administer and monitor the management of student loans in Nigeria.