The Nigerian Education Loan Fund (NELFUND), in collaboration with the National Identity Management Commission (NIMC) and a Data Mining Company, has signed a Memorandum of Understanding (MOU) to facilitate seamless access to education loans for students through biometric-enabled cards.
The agreement was announced at the NELFUND headquarters in Abuja.
The primary objective of the MOU is to drive digital financial inclusion, promote transparency, and ensure accountability in the development of Government-to-People Service Cards (G2PS-cards).
NELFUND’s Chief Executive Officer, Akintunde Sawyer, praised President Bola Tinubu for his socio-economic initiatives, which are set to transform the prospects of Nigerian students.
The CEOs of NIMC and the Data Mining Company provided insights into the functionality and significance of the G2PS-cards. They explained that the biometric-enabled cards will feature multiple wallets, allowing students to access loans and other services both online and offline. Additionally, the cards are designed to be secure and cannot be duplicated, ensuring the integrity of the system.
The collaboration aims to streamline the process of obtaining education loans, making it more efficient and accessible for students across Nigeria.
