SAN repays 1970s student loan to NELFUND 40 years after

The Nigerian Education Loan Fund (NELFUND) has announced the receipt of a N2 million bank draft from Senior Advocate of Nigeria (SAN), Asiwaju Adegboyega Solomon Awomolo, marking the full repayment of his loan from the now-defunct Federal Government Student Loan Scheme.

Awomolo, who benefited from the scheme in the 1970s, settled his loan in a show of gratitude for the financial support that enabled him to complete his undergraduate studies at the University of Ife (now Obafemi Awolowo University).

Awomolo took the loan during the 1975/1976 and 1976/1977 academic sessions, totalling N1,000.

Despite previous efforts to repay, he was only able to fulfil his obligation recently. In a letter dated September 4, 2024, to the Managing Director/CEO of NELFUND, Mr. Akintunde Sawyerr, Awomolo expressed his appreciation to the Nigerian government for the support provided during his studies.

Awomolo commended NELFUND for its transparency and accountability, recognizing its efforts to provide financial support to deserving students across Nigeria.

The Fund stated that his repayment is a testament to the lasting impact of President Bola Ahmed Tinubu’s initiatives and NELFUND’s ongoing role in supporting Nigerian students.

“His N2 million repayment serves as full and final settlement of his loan indebtedness, reflecting his dedication to upholding his responsibility to the nation,” the statement added.

NELFUND noted that the funds from Awomolo’s repayment will support current students in need of loans, further strengthening its mission to empower Nigerian students regardless of their financial background. This act follows a similar gesture announced on August 27, 2024, when another senior Nigerian repaid his loan in full with the sum of N3,189,000.

Awomolo’s repayment comes just two weeks after Hon. Lanre Laoshe, another beneficiary of the scheme, repaid his N1,200 loan, received between 1976 and 1979, with a sum of N3,189,217.

Laoshe, a former House of Representatives member and Deputy Whip, also expressed appreciation for the government’s support during his academic pursuits.