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Tinubu Signs Into Law Amended Students Loan Bill

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President Bola Ahmed Tinubu Wednesday signed the newly amended Student Loans Re-enactment Bill, 2024 into law.
The President signed the bill in the presence of the President of the Senate , Senator God’s will Akpabio , Deputy Senate President , Senator Jibrin Barau , the Minister of Education aand the Chief of Staff to the President ; Femi Gbajabiamilla and few other stake holders .
The executive bill, titled “ Bill for an Act to repeal the Students Loans (Access to Higher Education) Act, 2023, and to Enact the Student Loans (Access to Higher Education) Bill, 2024,” . went through intensive legislative actions of the Senate and the House of Representatives and their Committees on Tertiary Institutions and TETFund’s following the return of the bill earlier signed into law in June 2023 by President Tinubu but had some operational hitches
The amended Act among other provisions is to create the Nigerian Education Loan Fund.s as a corporate body to administer, manage, and invest funds specifically for providing loans to Nigerians pursuing higher education, vocational training, and skills acquisition, along with other related activities.
The Act. grants the Fund the authority to supply financial assistance in the form of loans to Nigerians who qualify, helping to pay for tuition, fees, other charges, and maintenance costs during their enrollment in recognized tertiary and vocational education establishments in Nigeria.
The reviewed Act is ensured the removal of family income threshold and the requisition for a guarantor for the Student to qualify for the loan .
“Student applicants can no longer be disqualified based on their Parent’s loan history.”
The Executive Bill in it’s amendment also gave the Fund the capacity to. broaden its scope by providing interest-free loans to Nigerian students seeking skill-development program.
Furthermore, the President emphasized the imperative of equity and inclusivity in the program’s management.
“No matter how economically challenged you are, accredited and qualified students will and must have access to this loan to advance their education in higher institutions. There is no compromise in our commitment to the disadvantaged citizens of this nation,” Tinubu said.
In his re marks after the signing president, Tinubu said “ First of all, I must thank members of the National Assembly for their expeditious handling of this bill considering the children of Nigeria, that education is the tool to fight against poverty effectively.”
“We are determined to ensure that education is given the proper attention necessary for the country including skills development programmes. This is to ensure that no one, no matter how poor their background is, is excluded from quality education and opportunity to build their future.”
“We are here because we are all educated and were helped. In the past, we have seen a lot of our children drop out of college and give up the opportunity. That is no more, the standard and the control is there for you to apply no matter who you are as long as you are a Nigerian citizen.”
Meanwhile the Spokes Person of the FUND , Mr Nasir Ayitogohas indicated that the pilot scheme will Start in Public Tertiary institutions after the President’s appointment of the management team
“ The target for this phase of the loan are students of federal and state universities, federal and state polytechnics and federal and state colleges of education. Whoever desires the loan will apply.
“When you need the loan, apply and you will get it if you meet the requirements.”

Nneka Amaechi-Nnadi, Abuja

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Yahaya Bello: Senator Hails EFCC’s Probe Of N80.2bn Fraud

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Senator representing Kogi Central Senatorial District in the National Assembly, Natasha Akpoti-Uduaghan, has commended the efforts by the Economic and Financial Crimes Commission, (EFCC) to apprehend and prosecute the immediate past governors of Kogi State, Alhaji Yahaya Bello, over an alleged N80.2 billion fraud.
This is just as she also hailed the EFCC chairman, Ola Olukoyede, for ceding 14 properties that were initially forfeited to the federal government to the government and people of Enugu State.
Reacting to Bello’s excuse for not honouring the EFCC’s invitation, the lawmaker emphasized the need for the commission to investigate other corrupt public officials to avoid the impression that their actions against former governor were meant to witch hunt him.
In a now-viral video, the EFCC chairman had claimed Belloh told him that a female senator (name withheld) allegedly gathered journalists to humiliate him anytime he was at the agency’s Abuja office for interrogation.
“I called Yahaya Bello, as a serving governor, to come to my office to clear himself. I shouldn’t have done that. But he said because a certain senator had planted over 100 journalists in my office, he would not come.
“I told him that he would be allowed to use my private gate to give him a cover, but he said my men should come to his village to interrogate him,” Olukoyede was quoted as saying.
But Senator Natasha in a statement signed by her Chief Press Secretary, Arogbonlo Israel and issued at the weekend in Abuja, reminded Yahaya Bello of the importance of respecting Nigeria’s laws and constitution, given his former position as the chief security officer of Kogi.
“I was surprised to hear that Yahaya Bello evaded the invitation from the EFCC, despite having served as Kogi’s former chief security officer. As a former governor, he should understand the importance of respecting Nigeria’s laws and constitution.
“It’s a well-known fact that ‘he who comes into equity must come with clean hands’. As such, I advise him to honour the invitation and clear his name while he still has the chance.
“I’d also like to take this moment to appreciate the diligence of the EFCC in handling the case so far. No Nigerian is above the law, and therefore the agency must see this case through to the end if they are to gain the trust of both Nigerians and the international community in the fight against corruption,” she said.

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Senate  Frowns Over Continued Depreciation Of Naira

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Worried over the  latest depreciation of the Naira against major foreign currencies, the Senate through its Committee on Finance, has  stated that the Legislature  is  exploring a range of policy options to mitigate the impact of Naira depreciation and foster economic stability in the country.
These, according to the committee, in a statement signed by its chairman, Senator Sani Musa (APC Niger East) and released yesterday, includes robust oversight of fiscal policies, engagement with key stakeholders, and the formulation of targeted interventions to support key sectors of the economy.
Senator Musa said the statement became necessary “to address the current state of the economy and the need for concerted efforts at tackling the instability and continuous depreciation of the Naira.”
This is even as he hoped that the “economic managers will adhere strictly to the norms and standards set by this administration to ensure that we achieve the desired outcomes in taking Nigeria to its economic growth and prosperity”, pledging the support of the National Assembly to the executive arm of government to achieve the set goals.
He, however, urged Nigerians to remain vigilant and resilient as they navigate these uncertain times, saying “together, we can overcome the challenges facing our economy and chart a path towards prosperity for all.”
The statement titled: “State of the Nation Economy and Naira Depreciation’, reads “The Nigerian economy is facing significant challenges, exacerbated by both internal and external factors.

“Despite efforts to stabilize and bolster economic growth, the numerous initiatives and bold but necessary steps and policy decisions taken by President Bola Tinubu, the persistent depreciation of the Naira against major foreign currencies has become a pressing concern.

“The recent depreciation of the Naira underscores the need for proactive measures to safeguard the stability and resilience of our currency.

“The Senate Committee on Finance is closely monitoring the situation and is committed to working collaboratively with relevant stakeholders to implement effective policies and strategies.

“It is imperative that we address the root causes of Naira depreciation, including but not limited to fluctuations in global oil prices, fiscal deficits, and structural imbalances in the economy.”

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WIW: Banigo Advocates Legislative Impetus

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The Senator, representing Rivers West Senatorial District at National Assembly Sen.Dr. Ipalibo Harry Banigo has advocated for legislative backings to enforce immunisation as a pre-condition for admission into nursing, primary and secondary schools in Nigeria.
Banigo made the assertion recently in a statement to commemorate this year’s week-long immunisation campaign in line with the World Health Organisation advocacy.
Banigo, a Harvard-trained Public Health personnel, explained that such legislation would strengthen the National Immunisation Policy in the administration of vaccines, saves lives, helps in the child normal growth, prevents serious illness and disabilities such as poliomyelitis .
The former Deputy Governor of Rivers State who is also the Chairman, Senate Committee on Health (Secondary and Tertiary), noted that Nigeria must attain at least, 90 percent vaccine coverage for all childhood and adolescence; stressing that a fully vaccinated child should have received BCG, Mussels and three doses of DTP and Polio .
She emphasised the need for collective efforts by stakeholders in the campaign against preventable diseases .
The theme for this year’s World Immunisation Week is “Humanly Possible: Saving Lives Through Immunisation” while the national theme is “Vaccine Works For All”.

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