Why NOUN students are not eligible for students loan — NELFUND

The Nigerian Education Loan Fund (NELFUND) has explained why students of National Open University of Nigeria (NOUN) are not eligible for the loan facility.

This, it said, is due to their inability to possess Joint Admission and Matriculation Board (JAMB) Number – one of the major requirements before accessing the facility.

Managing Director/Chief Executive Officer of the Fund, Akintunde Sawyerr stated this while addressing journalists in Abuja.

The Guardian reports that although NOUN is listed as the 29th school among the 126 federal higher institutions to benefit from the loan on NELFUND website, they would not be among the 1.2 million beneficiaries of the first phase of the loan for not meeting this criteria.

Recall that the MD had also revealed that 60,000 students had registered for the facility in one week, out of which 30,000 -representing 50 per cent – successfully applied.

He said the agency has very strict criteria and guidelines and would not bend the rules for any institution or individual, no matter how highly placed.

According to him, the Fund would ensure due diligence, “protect taxpayers money and protect the Fund from frivolously handing out money without being able to account for it”.

Sawyerr said: “We have strict criteria and guidelines around how people can access this loan opportunity. All of them are non-negotiable. JAMB (number) is non-negotiable using this application process. Unfortunately, if an applicant hasn’t got a JAMB number, and hasn’t gone through the JAMB application process it is going to be impossible to grant that individual a loan at this stage.

“So, I urge those who can, to go and regularise their status with JAMB so that it makes it easy for them to access this opportunity. This is an equal opportunities programme. It doesn’t seek to discriminate against anybody. But it does seek to protect taxpayers’ money and protect the Fund from frivolously handing out money without being able to account for it.

“We have an obligation to that. This money is held in trust by NELFUND and administered by the Management. And we must do everything we can to protect it. Even if it means, unfortunately, some people won’t have access to it immediately”.

He, therefore, urged those affected to contact the examination body and regularise their status.

He listed other mandatory requirements by applicants to include: name of institution of study, admission number, date of birth, National Identity Number (NIN) as well as Bank Verification Number (BVN).