President Bola Tinubu has approved the appointment of a managing director and two executive directors to lead the management team of the National Education Loan Fund. The appointees include Akintunde Sawyerr as Managing Director, Frederick Akinfala as Executive Director of Finance and Administration, and Mustapha Iyal as Executive Director of Operations.
The appointments align with President Tinubu’s commitment to securing Nigeria’s socio-economic future by ensuring sustainable higher education and critical skill development for all Nigerian students and youth. This move follows the signing of the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, aimed at addressing challenges encountered with the previous legislation.
The newly signed bill addresses governance and management issues, eligibility criteria for applicants, repayment provisions, and loan recovery methods. It establishes the Nigerian Education Loan Fund as a body corporate with the authority to enter into contracts and initiate enforcement actions for loan recovery.