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Anumudu Wins InterswitchSPAK 1.0 to Emerge Nigeria’s ‘Best Science Student

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By Modupe Gbadeyanka

Sixteen year old Akachukwu Anumudu of Apostolic Faith Secondary School, Anthony, Lagos, on Saturday, February 9, 2019, emerged winner of the first edition of the InterswitchSPAK National Science Competition held in Lagos.

He beat eight other contestants in an intense quiz session to win the grand prize of N7.5 million worth of tertiary education scholarship spread over five years, a laptop and a monthly stipend during the course of the scholarship.

The first runner-up was 16-year-old Henry Umunna of the Loyola Jesuit College, Abuja. Umunna won N4 million worth of scholarship spread over three years; while the second runner-up, 16-year-old Onyedikachi Kanu from Dority International School, Aba, got N1m worth of scholarship for one year.

Akachukwu came tops after advancing through various levels of the competition. Expressing his gratitude, Akachukwu said he never expected to make it this far, explaining that competitions like this would help in discovering brighter young stars in Nigeria.

He said: “Whenever I see people win at competitions, I always wondered if I could ever get that lucky.  But now, I know it’s beyond luck and I am glad that all my sleepless nights and hard work paid off. I am very grateful to Interswitch because they made me who I am today. Before now, I was very shy and reserved, but my whole experience at the InterswitchSPAK 1.0 has helped build my confidence and prepared me for the future”.

Another highlight of the day was the presentation of the Founder’s Award to Team Neptune- winners of the Innovation Challenge. 

The team made up of nine SS2 kids, collaborated to develop a technology-driven solution aimed at providing Nigerians with easier access to National Health Insurance.  Each student was presented with a medal and a laptop. The nine students also get a chance to partake in a two-week internship programme at Interswitch Group’s head office in Lagos during the holidays.

Mitchell Elegbe, Group Managing Director/Founder, Interswitch Group, said that his company is particularly passionate about the healthcare sector and is already working on the proposal that emerged from the Innovation Challenge. He added that the winning team will get to join the Interswitch team to further develop the proposed solution.

After presenting the cheque of N7.5 million to the grand winner, Elegbe, in his short remarks, reiterated the importance of emotional Intelligence.

He said: “You have emerged winner of this competition and that makes you a very special person.  However, you must remember that although having a high IQ is necessary, it is not sufficient for success in life. We hope you will take all you have learnt during this competition and apply it where necessary. We wish you greater success in life and we will be with you every step of the way”.

Mr Abubakar M. Gana, Acting Registrar/Chief Executive, National Examinations Council (NECO) in his address, drew a connection between STEM (Science, Technology, Engineering and Mathematics) and national development. 

“STEM education, if adequately pursued, can be described as the bedrock of any nation’s technological take-off or development.  The era of pen-paper quiz has given way to technology.  Quiz administration is now computerized as we can see here at InterswitchSPAK 1.0”, he said.

He also lauded Interswitch for their investment in the competition as well as for being a major player in Nigeria’s economy through their electronic payment system which eases business transactions.

Besides the three major prize winners, the other six contestants were awarded N500,000 each, as consolation prizes for earning a spot in the ‘Top 9’.  15-year-old Glory Okoli of Ambassadors College, Ota, was gifted an additional N250,000 by the Interswitch boss for being the last female standing in the competition.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Education

Again, NELFUND Extends Deadline for 2025/26 Session Loan Applications

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By Adedapo Adesanya

The Nigerian Education Loan Fund (NELFUND) has granted another extension for its Student Loan Application Portal to accommodate institutions that requested additional time for the 2025/2026 academic session.

According to the statement signed by NELFUND’s Director of Strategic Communications, Ms Oseyemi Oluwatuyi, on Thursday, the extension applies only to institutions that submitted formal requests, allowing eligible students extra time to complete their applications.

“The Nigerian Education Loan Fund has approved an extension of its Student Loan Application Portal for institutions that have formally requested additional time for the 2025/2026 academic session,” the statement read.

Business Post reports that at the beginning of March, NELFUND announced an extension to the deadline by a week for its student loan application portal following a notable rise in nationwide interest driven by ongoing awareness campaigns.

Speaking on the development, NELFUND Managing Director and Chief Executive Officer, Mr Akintunde Sawyerr, reiterated the Fund’s commitment to ensuring that eligible students at participating institutions can access the student loan programme.

“NELFUND remains committed to ensuring that eligible students across participating institutions have the opportunity to access the student loan programme,” he said.

The Fund urges students in affected institutions to take advantage of the extension and submit their applications through the official portal.

It also emphasised its dedication to transparency, accountability, and providing sustainable financing solutions to remove financial barriers to higher education in Nigeria.

Established to administer the Nigeria Student Loan Scheme, NELFUND was enacted into law by President Bola Tinubu in April 2024.

The initiative provides interest-free loans to students in public tertiary institutions to cover tuition and living expenses.

Beneficiaries are required to repay the loans after completing their education and securing employment, aiming to increase access to higher education for students from low-income backgrounds.

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Education

NRS to Boost Tax Education in Nigerian Institutions

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By Adedapo Adesanya

The Nigeria Revenue Service (NRS) has inaugurated a Curriculum Review Committee aimed at strengthening taxation education in Nigerian academic institutions and improving the country’s tax administration system.

According to a statement, the committee was inaugurated on February 24, at the NRS Academy in Durumi as part of the agency’s broader efforts to modernise tax education and align academic training with the evolving demands of contemporary tax administration.

Speaking during the inauguration, the Director of the NRS Academy, Mr Adeolu Akinyemi, said the review exercise would involve collaboration with the Chartered Institute of Taxation of Nigeria (CITN) to develop a more structured and relevant curriculum for the academy.

He emphasised that the initiative seeks to ensure that taxation programmes taught in Nigerian institutions reflect current developments in tax policy and practice, while also equipping students with the practical knowledge required in today’s tax administration environment.

The committee has been tasked with examining existing taxation curricula across Nigerian institutions and proposing updates that incorporate modern tax policies, recent legislative changes, and emerging areas such as digital taxation and global tax practices.

Officials say the review is also designed to close the gap between theoretical classroom instruction and the practical realities of tax administration.

By strengthening the link between academic learning and professional practice, the revised curriculum is expected to better prepare graduates for careers in the tax sector.

The effort is further expected to enhance tax awareness among citizens, encourage voluntary tax compliance, and support the development of skilled tax professionals who can contribute to national revenue generation and economic growth.

The committee is chaired by Mrs Aisha Hamman Mahmoud, Special Adviser to the Executive Chairman of the NRS on Research and Statistics. Its membership includes representatives from the service as well as academic experts in taxation and fiscal policy, alongside professionals with experience in tax administration, policy formulation, and tax education.

The committee will work with relevant educational regulatory agencies and professional bodies to ensure that the proposed curriculum aligns with national academic standards while addressing the practical needs of Nigeria’s tax system.

The NRS stated that the initiative forms part of its ongoing commitment to expanding tax knowledge, strengthening professional capacity, and promoting responsible tax practices across the country.

The curriculum review exercise is expected to be completed within 60 days, after which the Service plans to provide further updates on the implementation of the revised programme.

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Education

Airtel Africa Foundation Gives Scholarship to 70 Nigerian Undergraduates

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By Modupe Gbadeyanka

The first batch of Nigerian undergraduates to enjoy fully paid scholarships for studying science, technology, engineering and mathematics (STEM) courses across the continent has been chosen by Airtel Africa Foundation.

Business Post gathered that 70 students from universities across Nigeria were selected from thousands of applicants through an independently managed process, which took nearly six months.

It was learned that most of the undergraduates were from the University of Lagos (UNILAG), Obafemi Awolowo University (OAU) Ile-Ife, the University of Benin (UNIBEN), Tai Solarin University of Education (TASUED), the University of Ilorin, Ahmadu Bello University (ABU Zaria), and the University of Nigeria (UNN).

The scholarship covers tuition, laptop computers, living expenses, and essential learning resources, a statement from Airtel Africa Foundation disclosed.

The chairman of the foundation, Mr Segun Ogunsanya, speaking at the presentation of the scholarships to the beneficiaries at the Lagos headquarters of Airtel Nigeria, emphasised the need for initiatives such as the Airtel Africa Foundation’s undergraduate tech scholarship for the future of the continent.

“True legacy is not measured by the awards we win or the volume of SIM cards we sell; it is measured by the lives we save, the people we feed, and the students we support when the line between success and failure is at its thinnest.

“At the Airtel Africa Foundation, we believe that lifting people out of poverty is the ultimate benchmark of a great company. Today, we are writing that legacy by tilting the balance in favour of the brilliant but underserved, ensuring that the fourth industrial revolution, driven by AI and Data Science, is built by African talent for the African continent,” he stated.

Mr Ogunsanya further revealed that this fellowship, executed through Airtel Nigeria, is designed to bridge the gap where funding, skills, and opportunity often fail to meet.

In addition to the N500,000 yearly budget for the fellows’ four-year or five-year courses, each fellow would be integrated into a structured support system for academic guidance and career mentorship, intended to ultimately transition students from the classroom to the global tech workforce.

Addressing the students, the chief executive of Airtel Nigeria, Mr Dinesh Balsingh, stressed that youth development is a strategic imperative for Airtel.

“At Airtel Nigeria, we view youth development as essential nation-building. When young people succeed, innovation accelerates, and social stability improves.

“By connecting these brilliant scholars to knowledge, skills, and confidence, we are fulfilling our core mission to connect people to opportunity. To our recipients: you earned your place here through merit and discipline. You are now ambassadors of excellence, and we expect your leadership to be defined by your conduct as you help shape a more inclusive digital future for Nigeria,” the Airtel Nigeria chief said.

The Nigerian cohort joins a prestigious network of Airtel Africa Foundation fellows currently studying in Tanzania, the Democratic Republic of Congo (DRC), Uganda, and India.

The initiative underscores a broader commitment to technology education, youth development, and Nigeria’s digital economy.

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