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Tips For Nigerian Students To Access Loan Scheme

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The signing of the Student Loan Bill into law by President Bola Tinubu on Monday has elicited commendations from the public, especially students.

The bill will enable Nigerian students access loans at interest-free rates.

It is also expected to see the establishment of an education bank.

In November 2022, the bill was passed by the National Assembly.

The bill was sponsored by Hon Femi Gbajabiamila.

Checks by The Nation shows the bill seeks the establishment of the Nigerian Education Bank, which shall have powers to supervise, coordinate, administer, and monitor the management of student loans in Nigeria

The board will also receive applications for student loans through higher institutions in Nigeria on behalf of the applicants, screen the applications to ensure that all requirements for the grant of students’ loan under the Act are satisfied.

In the copy sighted by The Nation, “The bank shall also have the powers to approve and disburse the loan to qualified applicants; control and monitor and coordinate the students’ loan account/fund and ensure compliance in respect of disbursement; monitor academic records of grantees of the loan to obtain information on their year of graduation, national service, employment to ensure that grantees of the loan commence repayment of the loan as at when due, among other functions.

“The Bill provides that notwithstanding anything to the contrary contained in other enactments, all students seeking higher education in any public institution of higher learning in Nigeria shall have an equal right to access the loan under this Act without any discrimination arising from gender, religion, tribe, position or disability of any kind.

“The loan referred to in this Act shall be granted to students only for the payment of Tuition fees. The grant of the loan to any student under this Act shall be subject to the students/applicant(s) satisfying the requirements and conditions set out under this Act.”

Here are things to know before applying for student loan:

1. Students applying for loan must apply to the Chairman of Nigerian Education Bank through their respective institutions.

2. They must have secured admission into any of the Nigerian Universities, Polytechnics, Colleges of Education or any vocational school established by the Federal Government or the government of any state of the Federation.

3. Applicant must provide at least two guarantors.

4. Each of the guarantors must be a civil servant of not less than level 12 years in service, or a lawyer with at least 10 years post-call experience; of a judicial office of a justice of peace.

5. All applications from every institution must be submitted through the Student Affairs Office of each institution via a list of all qualified applicants from the institution accompanied by a cover letter signed by the vice-chancellor or rector or the head of the institution and the students affairs officer and addressed to the chairman of the board of the bank.

Each application must be accompanied by the following:

1. Copy of student’s admission letter

2. Letter by the guarantors addressed to the chairman, governing board of the bank recommending the student for the loan and stating that he accepts the liability in the event of default.

 

3. Each guarantor must submit two passport photographs, name of the employer and evidence of being so employed by the named organisation.

4. Each institutions must ensure that all applications from its school reach the bank not more than 30 days after close of admission for the academic year.

5. Where the guarantor is self-employed, he must provide particulars of his business as registered with the CAC or any other appropriate authority.

A student can be disqualified from accessing loan if:

1. He is proven to have defaulted in respect of any previous loan granted by any organisation.

2. He has been found guilty of exam malpractice by any school authority.

3. He’s convicted of felony or any office involving dishonesty or fraud

4. He has been convicted of drug offenses

5. Any of his parents has defaulted in respect of student’s loan or any loan granted to him or her.

For repayment of the loan:

1. Any beneficiary of the loan shall commence repayment two years after completion of NYSC

2. Repayment shall be by direct deduction of 10% of the beneficiaries salary at source by that employer and credited to the students loan account.

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Unknown Gunmen Abduct Channelstv Reporter In Port-harcourt

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Some unknown gunmen have kidnapped Joshua Rogers, the ChannelsTV reporter in Port-Harcourt, the Rivers State capital.

Politics Nigeria learnt that Rogers was picked up close to his residence at Rumuosi in Port Harcourt and to an unknown destination by the gunmen around 9pm on Thursday, April 11.

The reporter was driving his official ChannelsTV branded car when the hoodlums accosted, pointed a gun at him and took him away in the same vehicle.

 

Rogers was said to be returning from his official assignment in Government House after a trip to Andoni for a government event when the incident happened.

Already, the gunmen were said to have contacted his wife and demanded a N30million ransom for bis release.

His cameraman confirmed the incident and appealed to his abductors to set him free unconditionally.

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Lassa Fever Kills 150 In Nigeria — NCDC

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According to the Nigeria Centre for Disease Control and Prevention (NCDC), 150 people died from Lassa virus in 125 local government areas throughout 27 states in the federation between January and March 2024.

The NCDC reported that the deaths were recorded with a case fatality rate (CFR) of 18.6% overall from week one to week thirteen, 2024. This is higher than the CFR for the same time in 2023 (17.5%).

In its Lassa Fever Situation Report Epi Week 13, which was released on March 25–31, 2024, the agency revealed that 806 of the 5,295 suspected cases that were recorded were confirmed. Eyes Of Lagos reports,

According to the report, in week 13, the number of new confirmed cases decreased from 25 in Epi week 12, 2024 to 15. These cases were reported in Ondo, Bauchi, Plateau and Edo states.

 

In total for 2024, 27 states have recorded at least one confirmed case across 125 LGAs, even as 62 percent of all confirmed Lassa fever cases were reported from Ondo, Edo, and Bauchi states, while 38 percent of cases were reported from 24 states with confirmed Lassa fever cases.

Of the 62 percent confirmed cases, the NCDC said Ondo reported 24 percent, Edo 22 percent, and Bauchi 16 percent. The predominant age group affected is 31-40 years (Range: 1 to 98 years, Median Age: 32years), with a male-to-female ratio for confirmed cases of 1:1.

From the report, the number of suspected cases (5,295) increased compared to that reported for the same period in 2023 (4,338).

The agency confirmed that the National Lassa fever multi-partner, multi-sectoral Incident Management System has been activated to coordinate response at all levels at the Emergency Operations Centre, EOC.

No new healthcare worker was affected in the reporting week 13, the report noted.

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