The Nigerian Education Loan Fund (NELFUND) has announced the receipt of the sum of N2,000,000 through a bank draft, given by Asiwaju Adegboyega Solomon Awomolo, a distinguished Senior Advocate of Nigeria (SAN) and former beneficiary of the defunct Federal Government Student Loan Scheme in the 1970s.
The Fund, in a press statement signed by Monalisa Dike for the Director, Corporate Communications, said Awomolo benefitted from N1,000 loan during his undergraduate studies at the then University of Ife (now Obafemi Awolowo University) in the 1975/1976 and 1976/1977 academic sessions.
NELFUND said Awomolo’s commitment to refund the loan 49 years after, has demonstrated his unwavering commitment to the nation by repaying the loan in full.
“The loan, which at the time amounted to a total of N1,000.00 (One Thousand Naira) for both sessions, was instrumental in helping him complete his law degree.
“Despite several previous attempts, over the years, to refund the loan, Mr. Awomolo was unable to fulfill the repayment until now.
“In his letter dated 04/09/24 and addressed to the Managing Director/CEO of NELFUND, Mr. Akintunde Sawyerr, Mr. Awomolo expressed his gratitude to the Nigerian government for the opportunity that the student loan provided him, enabling him to pursue and complete his undergraduate studies without financial hardship.
“He acknowledged the transparency and accountability that NELFUND has demonstrated in its current management of student loans, commending the organization’s efforts to ensure that deserving indigent students across the country can access educational funding,” the statement added.