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EDUCATION

Nigeria legal icon repays 47-year old student loan to NELFUND with interest

September 7, 2024 • 1 min read

September 07, 2024

By Samuel Ogunsona

A Senior Advocate of Nigeria (SAN), Asiwaju Gboyega Awomolo, has repaid a 47-year-old student loan of N1,000 to the Nigerian Education Loan Fund (NELFUND) with a staggering interest of N1,999,000, totaling N2,000,000.

Awomolo, who benefited from the loan during his undergraduate studies at the University of Ife (now Obafemi Awolowo University) in the 1975/1976 and 1976/1977 academic sessions, expressed his gratitude to the Nigerian government for the opportunity to pursue his education without financial hardship.

In a letter to the Managing Director/CEO of NELFUND, Mr. Akintunde Sawyerr, Awomolo commended the organization’s efforts to ensure transparency and accountability in student loan management, enabling indigent students to access educational funding.

This repayment is a testament to the enduring impact of the President Bola Ahmed Tinubu (GCFR) initiative and NELFUND’s ongoing relevance in supporting Nigerian students.

The funds will be used to fund the education of students who need the loan now.

Awomolo’s patriotic gesture follows a similar act by another senior Nigerian who repaid their loan in full with N3,189,000 on August 27, 2024.

This demonstrates the strength of morality and the importance of fulfilling one’s obligations, showcasing the enduring value of education.