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Student Loan: FG Finalises Repayment Plans Ahead Feb 21 Launch

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Ahead of the official launch of the Student Loan Scheme on February 21, 2024, the Nigeria Education Loan Fund said it is finalising repayment modalities.

Although it confirmed that the 10 per cent direct deduction from the beneficiaries’ salaries still stands, applicants can pay higher percentages or 100 per cent upfront if they choose.

However, persons confirmed to be dead, terminally ill, and incapable of earning a living through work will be granted waivers, a source close to the board’s activities told The PUNCH.

“First and foremost, the modality for loan recovery will be done by the employers, which is what we are putting in place at the moment. The loan is N500,000 per year. So, in four years of schooling, that adds up to N2m. And it is interest-free, which means you are not paying more.

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“You will pay the baseline 10 per cent. But if you so wish, you can ask your employer to increase your recuperation rate.

“If you don’t want to be encumbered by any debt, you can give a standing order that you want your employer to take away 15 or 20 per cent of your salary every month, or you can choose to clear it up all at once. If you do your business and you can make enough money, you can clear it up,” the source disclosed.

Asked if the rates would be prorated according to the remuneration package of beneficiaries, the source replied, “Everyone will pay a flat rate.”

On Wednesday, February 7, the Executive Secretary of NELFund, Dr Akintunde Sawyerr, confirmed to our correspondent that the much-awaited scheme would go live on February 21, when President Bola Tinubu launches it at the State House, Abuja.

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“Yes, it is confirmed. It is confirmed. It will be launched on February 21,” Sawyerr confirmed to our correspondent exclusively.

On June 12, 2023, President Tinubu signed the Access to Higher Education Act, 2023 into law to enable indigent students to access interest-free loans for their educational pursuits in any Nigerian tertiary institution.

The move was in “fulfillment of one of his campaign promises to liberalise funding of education,” a member of the then Presidential Strategy Team, Dele Alake, said.

The Act, popularly known as the Students Loan Law, also established the Nigerian Education Loan Fund, which is expected to handle all loan requests, grants, disbursement, and recovery.

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The source further explained that beneficiaries will get a two-year “grace period” after completing the one-year National Youth Service.

“The moment they (beneficiaries) finish NYSC, they have two years of grace, almost like a moratorium, after which they will commence repayment.

“So, the idea is we are hoping a lot of them will get jobs. And those who don’t get jobs will run their businesses. That is why, in the beginning, when you apply for a loan, you must submit your National Identity Number and Bank Verification Number.

“If you are in private business, you will tell the loan board how you want to repay, either in the 10 per cent model or any other percentage you want,” the source added.

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However, beneficiaries who cannot find employment within two years will periodically report their employment status to the board.

Speaking exclusively to our correspondent, the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, explained the delay, saying, “Don’t forget, the last time they met the President, he asked them to expand their mandate to include those who want to learn vocational skills. That could be the reason why the whole thing was delayed because they had to increase the scope.”

Meanwhile, the President of the National Association of Nigerian Students, Lucky Emonefe, has expressed concern over their (NANS) non-involvement in the implementation of the loan disbursement.

In an interview with one of our correspondents, Emonefe said, “On the student loan, we have some worries. Fine, the president has good intentions but I don’t think those given the responsibility to do it are serious.

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“In the first place, when they wanted to sign these student loans, we recalled that NANS was invited by Mr President but as I speak now, they want to kick-start it but we have not been informed. We have not seen the guidelines on how students can access it.

“If they include private schools, while the students at UNIBEN pay N120,000 and those at Idahosa University pay N1m, it may lead to a situation where UNIBEN will increase their school fees. So, this is our worry.”

Student Loan: FG Finalises Repayment Plans Ahead Feb 21 Launch

Ahead of the official launch of the Student Loan Scheme on February 21, 2024, the Nigeria Education Loan Fund said it is finalising repayment modalities.

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Although it confirmed that the 10 per cent direct deduction from the beneficiaries’ salaries still stands, applicants can pay higher percentages or 100 per cent upfront if they choose.

However, persons confirmed to be dead, terminally ill, and incapable of earning a living through work will be granted waivers, a source close to the board’s activities told The PUNCH.

“First and foremost, the modality for loan recovery will be done by the employers, which is what we are putting in place at the moment. The loan is N500,000 per year. So, in four years of schooling, that adds up to N2m. And it is interest-free, which means you are not paying more.

“You will pay the baseline 10 per cent. But if you so wish, you can ask your employer to increase your recuperation rate.

Advertisement

“If you don’t want to be encumbered by any debt, you can give a standing order that you want your employer to take away 15 or 20 per cent of your salary every month, or you can choose to clear it up all at once. If you do your business and you can make enough money, you can clear it up,” the source disclosed.

Asked if the rates would be prorated according to the remuneration package of beneficiaries, the source replied, “Everyone will pay a flat rate.”

On Wednesday, February 7, the Executive Secretary of NELFund, Dr Akintunde Sawyerr, confirmed to our correspondent that the much-awaited scheme would go live on February 21, when President Bola Tinubu launches it at the State House, Abuja.

“Yes, it is confirmed. It is confirmed. It will be launched on February 21,” Sawyerr confirmed to our correspondent exclusively.

Advertisement

On June 12, 2023, President Tinubu signed the Access to Higher Education Act, 2023 into law to enable indigent students to access interest-free loans for their educational pursuits in any Nigerian tertiary institution.

The move was in “fulfillment of one of his campaign promises to liberalise funding of education,” a member of the then Presidential Strategy Team, Dele Alake, said.

The Act, popularly known as the Students Loan Law, also established the Nigerian Education Loan Fund, which is expected to handle all loan requests, grants, disbursement, and recovery.

ADVERTISEMENT
The source further explained that beneficiaries will get a two-year “grace period” after completing the one-year National Youth Service.

Advertisement

“The moment they (beneficiaries) finish NYSC, they have two years of grace, almost like a moratorium, after which they will commence repayment.

“So, the idea is we are hoping a lot of them will get jobs. And those who don’t get jobs will run their businesses. That is why, in the beginning, when you apply for a loan, you must submit your National Identity Number and Bank Verification Number.

“If you are in private business, you will tell the loan board how you want to repay, either in the 10 per cent model or any other percentage you want,” the source added.

However, beneficiaries who cannot find employment within two years will periodically report their employment status to the board.

Advertisement

Speaking exclusively to our correspondent, the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, explained the delay, saying, “Don’t forget, the last time they met the President, he asked them to expand their mandate to include those who want to learn vocational skills. That could be the reason why the whole thing was delayed because they had to increase the scope.”

Meanwhile, the President of the National Association of Nigerian Students, Lucky Emonefe, has expressed concern over their (NANS) non-involvement in the implementation of the loan disbursement.

In an interview with one of our correspondents, Emonefe said, “On the student loan, we have some worries. Fine, the president has good intentions but I don’t think those given the responsibility to do it are serious.

“In the first place, when they wanted to sign these student loans, we recalled that NANS was invited by Mr President but as I speak now, they want to kick-start it but we have not been informed. We have not seen the guidelines on how students can access it.

Advertisement

“If they include private schools, while the students at UNIBEN pay N120,000 and those at Idahosa University pay N1m, it may lead to a situation where UNIBEN will increase their school fees. So, this is our worry.”

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Terrorists plotting massive attacks on Abuja International Airport, Correctional Centres, military detention centre — AP Report

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Terrorists are planning attacks on key infrastructure in Abuja and Niger state, according to a memo by the Nigeria Customs Service (NCS).

The Associated Press, which obtained the memo, reported that the planned targets include the Nnamdi Azikiwe International Airport and a prison facility in Abuja, as well as a military detention centre in neighbouring Niger state.

Their intention is to release detained terrorists and inflict significant damage on critical aviation infrastructure,” it reads.

According to the NCS, investigations indicate that terrorists may attempt to replicate in Nigeria the recent major attacks on facilities in Niamey and Tahoua in the Niger Republic.

“An analysis of the report reveals a concerning correlation between the potential targeting of the Nnamdi Azikiwe Airport, Abuja, and recent large-scale attacks on aviation facilities in the Niger Republic, notably in Niamey and Tahoua,” the memo said.

It added, “This suggests a possible intent by terrorists to replicate the attack patterns within Nigeria.”

On January 29 this year, gunfire and explosions rocked the international airport in Niamey, in what security sources tagged a “terrorist attack” by suspected jihadists in Nigeria’s neighbouring country.

ISWAP terrorists also attacked the Nigerien Air Force base in Niamey earlier this year. Four soldiers were wounded, and an aircraft was damaged in the attack.

“The military and paramilitary forces are all on high alert and ready to forestall the attack,” AP quoted a senior customs officer.

When contacted for comment, the NCS spokesperson, CSC Abdullahi Maiwada, told Peoples Gazette he was unaware of the memo.

Over the years, many parts of Nigeria have faced security challenges ranging from banditry to Boko Haram insurgency, mass kidnappings for ransom, and farmer-herder violence.

Nigeria ranked fourth in the Global Terrorism Index released on March 19, 2026, by the Institute for Economics and Peace, recording a 46 per cent increase in deaths from terrorism in 2025.

The report said, “Islamic State West Africa Province and Boko Haram were responsible for 80 per cent of all terrorism deaths in the country.”

Days ago, the U.S. State Department authorised non-emergency government employees and family members to evacuate its embassy in Nigeria’s capital, citing widespread insecurity.

“Terrorists continue plotting and carrying out attacks in Nigeria. Terrorists collaborate with local gangs to expand their reach,” the U.S. said in its advisory, which the Nigerian government dismissed.

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Aliko Dangote named among TIME 100 most influential people for 2026

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Renowned African industrialist and philanthropist, Aliko Dangote, has been named among TIME Magazine’s 100 Most Influential People in the World for 2026, reaffirming his standing as one of the most successful and iconic business leaders of his generation.

Dangote joins global influential figures from multiple sectors, including political leaders such as U.S. President Donald Trump, Chinese President Xi Jinping, Israeli Prime Minister Benjamin Netanyahu, Canadian Prime Minister Mark Carney, revered Pope Leo XIV, current head of Catholic Church as well as business and technology leaders including Google CEO Sundar Pichai and YouTube CEO Neal Mohan.

The annual TIME100 list, published on April 15, 2026, recognises global figures whose leadership, ideas, and actions are shaping the future across business, politics, culture, and society. Dangote’s inclusion places him alongside prominent international figures drawn from diverse spheres of global influence.

This marks Dangote’s second appearance on the prestigious TIME100 list, following his first recognition in 2014, when he was honoured for his exceptional impact on business and philanthropy. His return to the list more than a decade later underscores the consistency and scale of his influence on the global stage.

Dangote, who is being recognized for his African industrial drive is the only Nigerian on the list and featured in the titan and innovators category. Other prominent honorees named alongside Dangote in the titan category are Reid Wiseman, Commander of the Artemis II mission to the moon; Sundar Pichai, CEO of Google and Alphabet and Neal Mohan, CEO of YouTube.

Also featuring prominently under the titan category are Michael and Susan Dell, the high-profile American tech billionaires and philanthropists best known as the founders of the Michael & Susan Dell Foundation, a global non-profit that focuses on improving the lives of children living in urban poverty. Included here also is the American designer and billionaire, Ralph Lauren, best known for founding the global lifestyle empire Ralph Lauren Corporation.

Recognized in the Pioneer category are individuals with breakthroughs in Science and Social Advocacy such Kiran Musunuru and Rebecca Ahrens-Nicklas, both of whom were cited for medical breakthroughs in genetic therapy as well as Aaron Williams, recognized for advancements in heart transplant readiness.

Influential figures recognized in global entertainment and culture include Ranbir Kapoor, prominent Indian actor; Dakota Johnson, recognized as an actress and cultural icon and Kate Hudson, included for her cultural influence.

As Founder and President of Dangote Group—Africa’s largest indigenous industrial conglomerate—Dangote has played a central role in advancing industrialisation across the continent. Under his leadership, the Group has made landmark investments spanning cement manufacturing, sugar and food processing, agriculture, infrastructure, and lately energy, significantly reducing Africa’s reliance on imports while creating millions of direct and indirect jobs.

In its citation, TIME Magazine highlighted Dangote’s vision of building African industries with local resources for global competitiveness, noting his recent investments in large scale energy and manufacturing infrastructure as emblematic of his long term commitment to Africa’s economic transformation.

Beyond business, Dangote is widely acclaimed for his philanthropic leadership through the Aliko Dangote Foundation (ADF), one of Africa’s largest private philanthropic organisations. The Foundation supports critical initiatives across healthcare, nutrition, education, disaster relief, and economic empowerment, contributing to improved outcomes for vulnerable communities across the continent.

The 2026 TIME100 recognition further reflects a broader global acknowledgement of African leadership, innovation, and enterprise, with Dangote standing as a symbol of the continent’s growing influence in shaping global economic and development narratives.

This latest honour consolidates Aliko Dangote’s legacy as a visionary industrialist and philanthropist, whose work continues to drive sustainable development, inclusive growth, and long term value creation—both within Africa and beyond.
Under his leadership, Dangote Group recently launched Vision 2030, with which Dangote Industries aims to transform from a regional $30 billion conglomerate into a $100 billion global powerhouse by 2030.

This strategy focuses on industrial self-sufficiency for Africa, moving the group from “regional dominance to global relevance”.

Dangote said the roadmap to vision 2030 is divided into phases to “supercharge” the group’s expansion; with phase one spanning 2025-2028 focused on scaling existing businesses—cement, fertilizer, and energy—and optimizing assets for international competitiveness.

The Phase two running from 2028-2030 is for the deployment of new businesses and ventures into global markets to drive the final leap to the $100 billion revenue target. The Dangote Group plans to venture into steel manufacturing, power, and deep-sea ports to tackle industrial bottlenecks across Africa.

This recognition by Time Magazine underscores the growing global acknowledgment of African leadership and innovation, and highlights Aliko Dangote’s enduring influence as a visionary leader committed to sustainable development and inclusive growth.

The 2026 list underscores the expanding global visibility of African leadership and Dangote’s continued influence as a leading industrialist and philanthropist.

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Malami, son face new terrorism-linked firearms charges

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Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), and his son, Abdulaziz Malami, on Wednesday pleaded not guilty to a five-count amended charge bordering on alleged illegal possession of firearms, filed against them by the Federal Government.

The Department of State Services had, on February 3, 2026, arraigned the defendants on a five-count charge bordering on alleged terrorism financing, aiding terrorism, and illegal possession of firearms.

Malami was also accused of failing to prosecute suspected terrorism financiers while in office, in addition to alleged unlawful possession of a Sturm Magnum 17-0101 firearm and ammunition.

They had earlier pleaded not guilty to the charges and were granted bail by the court.

However, at the resumed hearing on Tuesday, prosecution counsel, Akinlolu Kehinde (SAN), informed the court of an amended charge dated April 14, 2026, which he said had been served on the defendants.

Kehinde urged the court to substitute the earlier charge dated February 2, 2026, with the amended one to enable the defendants to take a fresh plea.

Responding, defence counsel, Shaibu Arua (SAN), confirmed receipt of the amended charge.

Consequently, the trial judge, Justice Joyce Abdulmalik, struck out the earlier charge and discharged the defendants in respect of it.

The court thereafter ordered that the amended five-count charge be read to the defendants.

In the amended charge, the defendants were accused of preparing to engage in acts of terrorism by allegedly possessing firearms without a licence, including a Sturm Magnum 17-0101 firearm, 16 Redstar AAA 5’20 live cartridges, and 27 expended cartridges.

The offences are said to be contrary to provisions of the Terrorism (Prevention and Prohibition) Act, 2022, and the Firearms Act, Cap F28, Laws of the Federation of Nigeria, 2004.

After the charge was read, the defendants pleaded not guilty to all counts.

Following the plea, Kehinde urged the court to fix a date for trial.

However, the defence counsel prayed the court to allow the defendants to continue on the bail earlier granted to them.

The prosecution did not oppose the application.

In her ruling, Justice Abdulmalik granted the request and fixed May 26 and June 16, 2026, for trial.

The amended charges read: “That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State, within the jurisdiction of this Honourable Court, did engage in preparation to commit acts of terrorism by having in your possession and without license, a Sturm Magnum 17 – 0101 firearm, Sixteen (16) Redstar AAA 5’20 live rounds of Cartridges and Twenty-Seven (27) expended Redstar and thereby committed an offence contrary to and punishable under Section 29 of the Terrorism (Prevention and Prohibition) Act, 2022.

“That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State, within the jurisdiction of this Honourable Court did conspire amongst yourselves in preparation to commit acts of terrorism by having in your possession and without a license a Sturm Magnum 17 – 0101 firearm, Sixteen (16) Redstar AAA 5’20 live rounds of Cartridges and Twenty-Seven (27) expended Redstar, contrary to Section 26 (1) of the Terrorism (Prevention and Prohibition Act) 2022 and punishable under Section 26 (3) (a) and (b) of the Terrorism (Prevention and Prohibition Act) 2022.

“That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State within the jurisdiction of this Honourable Court, without a license, did have in your possession a Sturm Magnum 17 – 0101 firearm and thereby committed an offence contrary to Section 3 of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004 and punishable under Section 27 (1) (a) (i) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004.

“That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State within the jurisdiction of this Honourable Court, without a license, did have in your possession Sixteen (16) Redstar AAA 5’20 live rounds of Cartridges and thereby committed an offence contrary to Section 8 (1) (b) (ii) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004 and punishable under Section 27 (1) (a) (i) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004.

“That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State within the jurisdiction of this Honourable Court, without a license, did have in your possession Twenty-Seven (27) expended Redstar AAA 5’20 live rounds of cartridges and thereby committed an offence contrary to Section 8 (1) (b) (ii) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004 and punishable under Section 27 (1) (a) (i) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004.”

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