The National Identity Management Commission (NIMC), the Nigeria Education Loan Fund (NELFUND), and Data Mining Company have signed a Memorandum of Understanding (MoU) to streamline student loan access through biometric-enabled cards.
The agreement, signed Friday at NELFUND’s headquarters in Abuja, aims to enhance financial inclusion, transparency, and accountability in disbursing education loans. Signing on behalf of their organizations were NIMC Director General, Engr. Abisoye Coker-Odusote; NELFUND Managing Director, Mr. Akintunde Sawyerr; and Data Mining Company Managing Director, Mr. Femi Akande.
Describing the initiative as a game-changer, Mr. Sawyerr highlighted the Government-to-People Service Card (G2PS-card) as a key tool for seamless loan access via multiple digital wallets. He commended President Bola Tinubu’s administration for its commitment to student welfare through the Renewed Hope Agenda.
Engr. Coker-Odusote emphasized that the biometric-enabled cards would ensure secure and verifiable identities for loan recipients. She noted that the cards, operable both online and offline, would facilitate transparent loan disbursement, eliminate bureaucracy, and prevent misuse.
“These cards cannot be forged or faked. Students can directly access their allowances, buy books, and make transfers without relying on banks,” she added.
The initiative is expected to revolutionize student loan accessibility in Nigeria, promoting digital and financial inclusion across campuses.
