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Chartered Stockbroker Bola Vaughan Gives Back to Abeokuta Grammar School

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Bola Vaughan

By Dipo Olowookere

A chartered stockbroker and dealing clerk at the Nigerian Exchange (NGX) Limited, Mrs Bola Vaughan, has donated copies of her book titled Create and Grow Your Wealth to students and members of staff of Abeokuta Grammar School, Ogun State.

The capital market expert is a product of Abeokuta Grammar School, one of the oldest and foremost schools in Nigeria, which is celebrating its 116th anniversary this year.

The school, fondly called AbeoGrams, has produced several notable personalities, including the legendary author and Nobel Laureate, Professor Wole Soyinka, who turned 90 a few days ago.

Presenting the book to the school, Mrs Vaughan said it was her way of giving back to the institution that moulded her into who she is today, expressing optimism that it will guide the students and the teachers through managing their finances and deepen financial inclusion in the country.

Business Post reports that over 200 copies of Create and Grow Your Wealth were presented to the school through the president general of Abeokuta Grammar School Old Boys Association (AGSOBA), Mr Sunday Oduntan; the group’s global administrative secretary, Mr Olawale Jiboku; and the Principal, Mr Oludare Morakinyo Sorinola, at a well-attended gala night on Thursday, July 18, 2024, in Abeokuta.

At the event, four alumni clubs, including the 9197 Club, to which the author belonged, were presented the Champions Award plaques for their outstanding contributions to their alma mater.

Create and Grow Your Wealth is a book that teaches readers how to create and grow wealth via regulated investments in the capital market.

Mrs Vaughan, who graduated from the prestigious University of Ibadan (UI), Ibadan, is expected to be inducted as a Fellow of the Chartered Institute of Stockbrokers (CIS).

The Lagos-based capital market guru is happily married to a foremost Pharmacist, Mr Sunkanmi Vaughan, with whom she has three children.

Create and Grow Your Wealth

Education

Senior Varsity Workers Warn of Indefinite Strike After April 30 Deadline

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SSANU

By Adedapo Adesanya

The Senior Staff Association of Nigerian Universities (SSANU) has issued a final deadline of April 30 for the federal government to conclude the ongoing renegotiations with its members or face indefinite shutdown of universities nationwide.

The warning was contained in a communiqué at the end of a Special National Executive Council (NEC) meeting of SSANU over the weekend in Abuja.

The union, in the document signed by its National President, Mr Muhammed Ibrahim, clarified that negotiations with the government were still ongoing and have not been concluded, contrary to reports suggesting otherwise.

SSANU expressed concern over what it described as misleading information circulating in the public domain, particularly claims that a 30 per cent increase in allowances had already been approved. The union insisted that no such agreement has been finalised or signed by the parties involved.

Reaffirming its stance, SSANU stressed that it would not accept any outcome that falls short of the understanding reached during the renegotiation process. It emphasised the need for fairness, due process and respect for collective bargaining principles in arriving at a final agreement.

Part of the communique read: “NEC reaffirmed that the renegotiation process with the Federal Government is still ongoing and has not been concluded.

“NEC expressed serious concern over attempts in the public domain to portray the process as concluded, particularly through the circulation of a letter suggesting approval of a 30 per cent increase on allowances, when discussions are still in progress, and no final agreement has been signed by the parties.

“It maintained that SSANU will not accept any outcome that falls below the negotiated understanding reached in the course of the renegotiation process and insists that fairness, due process and collective bargaining principles must be respected.

“Consequently, NEC in session, reaffirms its position by the Joint Action Committee of NASU and SSANU on the final ultimatum given to the Federal Government from April 1 to 30 to conclude the renegotiation process and sign their respective agreements. Should the Federal Government fail to conclude the renegotiation process and sign the agreements within the stated period, SSANU will have no alternative but to commence an indefinite, comprehensive and total industrial action along with NASU.

“NEC calls on all members of the Union across the branches to remain calm, vigilant, united and prepared to fully comply with the decisions of the Union in defence of their welfare, dignity and collective interest.

“NEC in session passes a vote of confidence on the National Administrative Committee under the leadership of M. H. Ibrahim, and also reaffirms its full support for the union.

“NEC reiterates that SSANU remains committed to the defence of the rights and welfare of its members and will continue to pursue justice with firmness, unity and resolve.”

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Education

NELFUND Crosses N242bn Disbursement Milestone

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NELFUND

By Adedapo Adesanya

The Nigerian Education Loan Fund (NELFUND) says it has reached a major milestone in its student support intervention programme, with a total of 1,388,592 students benefiting from the federal government’s education loan scheme and the cumulative disbursement now reaching N242.4 billion since the initiative became fully operational with the launch of its application portal on May 34, 2024.

According to the Leadership Newspapers, these figures were contained in the latest Student Loan Disbursement Status Report, which it exclusively obtained, covering activities from the launch date to April 15, 2026.

The report showed that over 1.7 million applications have been recorded since inception. Of this number, 1,388,592 students have successfully benefited from the loan scheme.

The cumulative sum disbursed under the scheme now stands at N242,400,915,093.25 (N242.4 billion), comprising institutional fees and student upkeep allowances.

A breakdown of the figure shows that N157,455,283,093.25 (N157.4 billion) was paid directly to beneficiary institutions as tuition and institutional charges, while N84,945,632,000.00 (N84.9 billion) was disbursed as upkeep allowances to students to support their living expenses during the course of study.

The dual disbursement structure, covering both institutional fees and student upkeep, is designed to ensure that beneficiaries are not only enrolled in school but also able to sustain themselves throughout their academic programmes.

The report further shows that 288 tertiary institutions across Nigeria are currently benefiting from the scheme. These include federal and state universities, polytechnics, and colleges of education.

The report stated: “Applications received since inception stand at 1,771,797. A total of 1,388,592 students have so far benefited from the loan scheme since its inception.

“The scheme currently has 288 beneficiary institutions, indicating its reach across tertiary institutions nationwide…

“This report presents a summary of significant milestones achieved since the launch of the NELFUND Student Loan Portal. It details disbursements made to institutions for tuition fees and direct upkeep allowances to students, delivering on one of the key promises of the Renewed Hope Agenda of empowering every Nigerian student,” it added.

The student loan scheme is one of the flagship social investment programmes under the Federal Government’s Renewed Hope Agenda, aimed at expanding access to education and building a skilled workforce for national development.

It is anchored on the principle that no Nigerian student should be denied tertiary education due to financial constraints.

It was established following the signing of the Access to Higher Education Act, 2023, which provided the legal framework for the creation of a centralised student loan scheme in Nigeria.

The agency was set up to manage, disburse, and recover education loans in a transparent and accountable manner.

The fund was created in response to longstanding challenges in Nigeria’s tertiary education sector, including inadequate funding, rising tuition costs, and the growing number of out-of-school youths unable to access higher education.

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Education

Okpebholo Raises Edo State University’s Monthly Subvention to N250m

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Edo State University subvention

By Modupe Gbadeyanka

The monthly subvention to the Edo State University, Iyahmo, has been increased to N250 million from N100 million by the state governor, Mr Monday Okpebholo.

A statement issued on Monday by the Chief Press Secretary (CPS) to the Governor, Mr Patrick Akhere Ebojele, said a grant of N2 billion has also been approved to improve infrastructure in the institution.

Speaking at the commissioning of an e-library and the flagging off of a fitness centre and a health facility in the school, Mr Okpebholo said the funding support is to strengthen the institution’s capacity and improve learning conditions.

“Today is a great day for Edo State University, Iyamho. Since assuming office, our administration has remained committed to repositioning the education sector in Edo State.

“The Ehi Aganmonmen Business Administration E-Library, the Peter Omoh Dunia Fitness Centre, and the Edo State University Health Centre are clear symbols of progress, partnership, and shared responsibility in advancing education and health in Edo State,” he said.

Governor Okpebholo further acknowledged the collective support from stakeholders, including a parent who volunteered to sponsor the architectural designs and the Vice-Chancellor, Professor Adetimirin, who donated one month of his salary.

“If you, the vice chancellor, can donate your salary, why will the Edo state government not donate towards the university projects they are carrying out? On this note, the Edo State government will give you (the school) N2 billion,” he declared.

“I also understand that a parent has offered to sponsor the designs, and our amiable Vice-Chancellor, Prof. Adetimirin, has donated his one-month salary to support the projects. These are not small things — these are sacrifices that speak louder than words,” he added.

On healthcare infrastructure, the Governor expressed support for the university’s plan to upgrade its medical facility.

“I commend the university for the new Health Centre to replace the existing sick bay. This is an important step toward providing better healthcare services to our university community. I assure you of our continued support as we work together to bring this vision to reality,” the Governor said.

He charged students of the institution to use the facilities well, and tasked the university management to “ensure proper maintenance and sustainability of these facilities.”

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