Finance
Tinubu Signs Student Loan Bill Into Law
President Bola Tinubu has officially enacted the Student Loan Bill, according to a statement made by his aide, Dele Alake, to State House Correspondents on Monday evening.
The newly passed law will facilitate Nigerian students’ access to loans with no interest rates.
Picture of President Tinubu signing student loan bill into law.
The Nyscinfo learnt that the Students Loan Bill proposes penalties for students who fail to repay their loans or for anyone found assisting defaulters, including a possible two-year imprisonment term, a fine of N500,000, or both.
The bill successfully passed its second reading in the House of Representatives on May 25, 2023.
Sponsored by Gbajabiamila, the bill is titled ‘A Bill for an Act to ensure convenient accessibility to higher education for Nigerians through interest-free loans provided by the Nigerian Education Bank established in this Act for the purpose of providing education for Nigerians and other related objectives.’
Further details will be provided soon.
Maryam Muhammad Rabiu
June 20, 2023 at 10:46
Thanks Sir we are very happy
MORUFF SHERIFF AKINTOYE
June 13, 2023 at 16:00
This is a fantastic attribute of you president. Do keep doing righteously sir, God will continue to strengthen you and bless you.
I applied for the NYSC loan and I didn’t get it. I could have set up my workshop and business now. Thanks for this innovation sir
High Chief Abel Ubong
June 13, 2023 at 08:50
You’re really appreciated,do keep up please!
Eric Erikinson Igbogi
June 13, 2023 at 06:16
Thank you very much please keep up