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NELFUND to Open Application Portal for 2024/25 Cycle February 22

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NELFUND

By Adedapo Adesanya

The Nigerian Education Loan Fund (NELFUND) has announced that the 2024/2025 application cycle for student loan will commence on February 22, 2025.

NELFUND’s Managing Director, Mr Akintunde Sawyerr, explained that the new cycle was necessary as the 2023/2024 session would conclude on February 21, 2025.

According to Mr Sawyerr, NELFUND has provided significant financial support to Nigerian students since its inception, disbursing a total of N35,555,920,971 (N35.56 million) in less than a year to cover institutional fees and upkeep allowances.

“In just 220 days, we have received an impressive 364,042 applications with an average of 1,000 applications per day. I am proud to announce that N22,736,960,971 has been disbursed to cover institutional fees across 240 institutions, directly benefiting 215,514 students.

“Furthermore, a total of N12,818,960,000 has been disbursed as upkeep support, reaching 169,114 students, each receiving N20,000 monthly to assist with their living expenses,” he stated.

Mr Sawyerr emphasized NELFUND’s commitment to efficiency, transparency, and continuous improvement, noting that the 2023/2024 student loan application portal would officially close on February 21, 2025.

“As part of our commitment to efficiency, transparency, and continuous improvement, we are here today to formally announce the closure of the 2023/2024 application cycle on our student loan portal. This marks a critical transition as we prepare to open the 2024/2025 application cycle.

The NELFUND boss urged prospective applicants to prepare for the new cycle by gathering the necessary documentation and ensuring they meet eligibility requirements.

“This transition is not just about closing one phase and opening another. It is about ensuring that we optimize our processes for a more effective loan disbursement system. By adhering to a structured application cycle, we can evaluate applications more effectively and ensure that funds are distributed equitably and transparently.”

On concerns of alleged marginalization of students from the southern part of the country, NELFUND’s Executive Director of Operations, Mr Mustapha Iyal, clarified that while about 69 per cent of beneficiaries were from institutions in the North, many of the students actually hailed from the South.

“We have students that are from the South studying in other institutions. So, our system mostly picks institutions, not applicants. So, you can see that we have a lot of institutions in the North on the system that have students from the South applying for the same loan.

“And we have institutions from the South where students from the South are also applying for the loan. But when you look at the population census, the number is really quite high. And I can tell you for free that our system will have almost 45 per cent to 55 per cent based on Northern applicants and Southern applicants.

“So, the numbers you are seeing are just the institutions per region, not really per applicant. So, I don’t think we have any marginalization in our system. And the way the system runs is, even I cannot put anyone on my system,” he said.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Education

Quidax, Tether Drive Blockchain Education in Africa

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Quidax

By Aduragbemi Omiyale

A strategic partnership has been entered into between Africa’s leading crypto exchange, Quidax, and largest company in the digital asset industry, Tether, to enhance blockchain education in Africa by equipping users with knowledge about Bitcoin and stablecoins, starting in Nigeria and Ghana.

Through this collaboration, Quidax and Tether aim to empower over 15,000 people and businesses with the knowledge to leverage digital assets.

The collaboration will include financial literacy campaigns, thought leadership, interactive workshops, and community engagement efforts designed to equip users with the knowledge to navigate the digital asset ecosystem safely and effectively.

Quidax and Tether are working toward a more inclusive and empowered financial ecosystem in Africa by fostering financial literacy and expanding access to digital assets education.

USDT, a dollar-pegged stablecoin, plays a crucial role in financial inclusion by providing stability amid currency volatility and enabling seamless cross-border payments.

With Africa emerging as a key player in the global crypto economy, this collaboration aligns with the region’s growing demand for digital financial education.

“With rising interest in digital assets across Africa, stablecoins like USDT provide a reliable way for people to store value and conduct business transactions with ease.

“Collaborating with Tether allows us to bridge the knowledge gap and drive broader education of cryptocurrency in a way that benefits everyday people,” the chief executive of Quidax, Mr Buchi Okoro, said.

“At Tether, we are committed to fostering financial education and empowering communities with the tools they need to navigate the digital economy.

“Africa is at the forefront of blockchain adoption, with Ghana and Nigeria among the most prominent emerging markets. Through this collaboration with Quidax, we aim to give individuals and businesses the knowledge to leverage digital assets consciously.

“By collaborating on financial education, we are laying a foundation for a more inclusive and accessible financial ecosystem,” the chief executive of Tether, Mr Paolo Ardoino, stated.

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Education

International Scholars to Chronicle Life of Nigerian Historian Kenneth Dike

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Emmanuella Agayapong Jy’Quan Stewart

By Adedapo Adesanya

The duo of Emmanuella Agayapong, an industrial economics expert from Accra, Ghana, and Jy’Quan Stewart, an American writer and historian, are co-authoring a new biography titled The Biography of Kenneth Dike: Nigerian Pioneer in a rare cross-continental collaboration effort.

This forthcoming work aims to illuminate the life and legacy of Kenneth Onwuka Dike, a seminal figure in African historiography and Nigeria’s first indigenous Vice-Chancellor.

Kenneth Onwuka Dike (1917–1983) was instrumental in redefining African historical studies. He championed the decolonization of African history, emphasizing the importance of indigenous perspectives and oral traditions in historical research.

Dike’s tenure as the first Nigerian Vice-Chancellor of the University of Ibadan marked a significant milestone in the nation’s academic development.

His efforts led to the establishment of the Nigerian National Archives and the Historical Society of Nigeria, institutions crucial for preserving the continent’s rich heritage.

The biography will delve into Dike’s early life in Awka, Nigeria, his academic pursuits across institutions like Fourah Bay College and the University of Aberdeen, and his pivotal role in promoting African leadership in scholarly works.

By chronicling his journey, the authors aim to shed light on Dike’s enduring impact on African historiography and higher education.

Emmanuella Agayapong brings a unique analytical perspective to the project, intertwining her expertise in industrial economics with a deep-seated passion for history and economic development. Jy’Quan Stewart, known for his dedication to uncovering unsung stories, contributes his extensive experience in historical research and advocacy.

Their partnership exemplifies an innovative approach to self-publishing, aiming to reach a global audience and inspire future generations.

This collaboration not only honors Kenneth Dike’s legacy but also sets a new precedent for international literary partnerships. By combining diverse perspectives and expertise, Agayapong and Stewart are poised to offer readers a comprehensive and insightful narrative of a man who reshaped the understanding of African history.

Emmanuella Agayapong is an industrial economics expert based in Accra, Ghana. With a passion for history and economic development, she brings a unique analytical perspective to the book.

Jy’Quan Stewart is an American writer and historian dedicated to uncovering unsung stories. His experience in historical research and advocacy makes him a vital voice in documenting Kenneth Dike’s legacy.

Together, Agayapong and Stewart are breaking new ground in self-publishing, demonstrating the power of international collaboration in historical literature.

Kenneth Dike

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Education

Hydrogen Donates to Ikosi High School Lagos

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Hydrogen Payment Services Company Ikosi High School

By Modupe Gbadeyanka

A company fostering financial and technological inclusion, Hydrogen Payment Services Company Limited, has donated some items to Ikosi Senior High School, Ketu, Lagos.

The company partnered with the Lagos State Ministry of Education, Education District II to provide a 5KVA solar-powered inverter system to the school.

In addition, the school had its water outlet area renovated to improving both its aesthetics and hygiene in line with Hydrogen’s commitment to enhancing learning environments.

Further, it donated some textbooks to the school library, ensuring they have the academic resources needed for a well-rounded education.

Also, the firm invested in the future of the students by equipping them with essential digital skills to thrive in a rapidly evolving world.

Through expert-led, interactive sessions, students were introduced to key tech-driven career paths, including Cybersecurity, Data Analytics, Software Development, Payment Technology, Product Management and Design, Sales and Business Development, Customer Experience, Digital Marketing, and Project Management.

According to Hydrogen, this comprehensive initiative reinforces its commitment to bridge the digital divide, fostering financial and technological inclusion, and preparing the next generation for the future of work, calling on all stakeholders to join in igniting potential, fostering financial and technological inclusion, and shaping the future of Africa’s digital economy.

It stated that by merging sustainability with digital education and academic support, it is ensuring students not only have access to reliable infrastructure and learning materials but also the knowledge and skills to navigate the global digital economy.

“At Hydrogen, we believe sustainability is about more than just environmental responsibility, but about investing in people, communities, and the future we are building together.

“This initiative is a comprehensive investment in young minds, ensuring they have both the resources and the skills to lead Africa’s digital transformation,” the Business Head for Payment Switching and Processing at Hydrogen, Fiyinfoluwa Olorunsola, said.

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