News
FG releases conditions as Student Loan Scheme begins
Students in Federal Government-owned tertiary institutions will be the first batch of beneficiaries of the student loan scheme.
The portal opens on Friday.
Chief Executive Officer of Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, stated this yesterday while unfolding the conditions would-be beneficiaries will be required to meet.
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No fewer than 1.2 million students are expected to benefit from the cardinal programme of the Bola Ahmed Tinubu Administration.
President Tinubu on April 3 signed into law the bill on the scheme in line with his electoral promise that no Nigerian student would drop out of school on account of lack of funds.
The ambitious cardinal programme will be funded with one per cent of the total annual collectable revenue by the Federal Inland Revenue Service (FIRS).
This year, the revenue target given to the FIRS is N19.4 trillion.
Should the agency meet this projection, N194 billion will be available as a loan to the beneficiary students.
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Repayment, according to the law, will commence two years after the completion of the National Youth Service Corps (NYSC) programme.
Speaking yesterday on other conditions for beneficiaries, Sawyerr said students in federal institutions such as universities, polytechnics, colleges of education and technical colleges, whose institutions have completed and uploaded their student data would get the opportunity.
He said: “We are going to start with federal institutions because it is a programme that we have to roll out in phases. It will eventually be rolled out to state-owned institutions.”
Sawyerr said no guarantor was needed for students to access the loan.
He said applicants would be required to provide their “Joint Admissions and Matriculation Board (JAMB) letter, National Identification Number (NIN), and Bank Verification Number (BVN).”
He added: “Applicants are also to complete the application, including personal details, academic information and details of financial need and submit the application after reviewing it.”
Speaking on the repayments, he said the loanees, whether they are working with the government or in the private sector, must pay back the loans after two years.
He explained: “The agency will pay 100 per cent of the fee for the loanees to the institution. There is also the track of providing stipends to the loanees.
“We only pay for one session at a time because people drop out of institutions. They change institutions or change their mind about the course they are doing.”
On the possibility of bad loans, he said the agency was trying to make sure that it had as much information about the applicants as possible and be sure that they were bonafide Nigerian citizens and were of good standing.
“We also have various ways of working with security agencies to ensure that the people who are applying for these loans are not people who may want to be fraudulent,” Sawyerr said.
Scheme excites Youth Parliament
Speaker, Lagos State Youth Parliament, Itunuoluwa Soniregun, applauded the President for bringing the Student Loan initiative to fulfillment.
She said that the importance of the loan on youths and national development could not be over-emphasised, adding that President Tinubu had shown ‘great dedication’ to the initiative, which will greatly benefit students.
“The financial burden associated with attending higher institutions can be overwhelming, this pressing need, I believe, has necessitated the implementation of the student loan bill in the country,” the Youth Parliament leader said, according to the News Agency of Nigeria.
She added: “The Federal Government of Nigeria, in its wisdom, has once again acknowledged the importance of investing in future leaders, by providing financial assistance through the Nigerian Education Loan Fund.
“We are indeed, impressed and applaud our vibrant President for not only keeping to his words on this initiative, but for the promptness which youths can have access to it from May 24.
“This, I must confess presents a unique opportunity for our vibrant and ambitious youths to access higher education, without being deterred by financial constraints.
”By subscribing to this loan scheme, students can pursue their dreams, and acquire the skills necessary for personal and professional growth,” Soniregun said.
She urged willing applicants to be proactive in seeking assistance and clarification from the relevant authorities, when necessary, as they approached the scheme.
Soniregun said: “For those who are interested in benefiting from the Nigerian Education Loan Fund, I encourage you to seize the opportunity and explore the possibilities it offers as soon as possible.
‘Make thorough research about the requirements and guidelines; ensure that your applications reflect your commitment to academic excellence and personal growth.
“After getting it, use the funds wisely and judiciously, acknowledging that the Federal Government’s commitment to your education is a testament to their faith in your potential.”
She also charged would-be candidates to strive for excellence in their academic pursuits, as the knowledge and skills they acquired would transform their lives and contribute to overall growth of the nation.
News
Nigeria Bans Honorary Degree Holders from Using ‘Dr’ Title
The Federal Government has officially banned recipients of honorary degrees from using the “Dr” title as a prefix to their names, in a move aimed at curbing the misuse and politicisation of academic honours.
The directive was announced on Wednesday by the Minister of Education, Tunji Alausa, following a Federal Executive Council (FEC) meeting held at the Presidential Villa in Abuja.
Speaking to State House correspondents, Alausa expressed concern over what he described as the growing abuse of honorary doctorate awards across the country.
“The recent trend we’ve seen with the award of honorary degrees has revealed a growing abuse and politicisation of this academic privilege,” he said.
“We’ve seen awards being used for political patronage, for financial gain, as well as the conferral of awards on serving public officials, which, as part of the ethics of honorary degree awards, should not happen.”
New Directive Takes Effect
Under the new policy, individuals conferred with honorary doctorate degrees will no longer be allowed to use “Dr” as a prefix in any official, academic, or professional setting.
Instead, recipients are required to clearly state the full honorary designation after their names—for example, John Doe, Honorary Doctor of Letters (D.Litt)—rather than adopting the “Dr” title.
The government clarified that only individuals who have earned doctoral degrees through academic study or are certified medical practitioners will retain the legal and professional right to use the “Dr” prefix.
Move to Restore Academic Integrity
The decision is part of broader efforts by the Federal Government to restore credibility and integrity to Nigeria’s education system, particularly in the awarding of honorary degrees.
Education stakeholders have long raised concerns over the proliferation of honorary doctorate awards, with some institutions accused of granting such honours without strict academic or ethical standards.
Observers say the new regulation is expected to discourage the commercialisation of honorary degrees and reinforce the distinction between earned academic qualifications and ceremonial recognitions.
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Abuja
Mercedes G63 Kills Six Cows in Abuja Highway Crash
A luxury Mercedes-Benz G-Class G63 AMG was involved in a late-night crash on a major highway in Abuja, killing six cows and sparking renewed concerns over road safety and enforcement of grazing laws in the Federal Capital Territory.
The incident occurred around 8 p.m. on Monday,
according to eyewitness accounts, when the high-speed SUV collided with a herd of cows that had reportedly strayed onto the roadway. A video circulating on social media shows the aftermath, with the white cows lying across the dark highway as traffic officials worked to manage the situation.
As of the time of filing this report, there were no confirmed injuries to the driver or any passengers in the vehicle. Unverified reports on social media suggested that the SUV sustained only minor damage despite the severity of the collision.
The accident has reignited debates over the continued presence of cattle on major roads in Abuja, despite the 2017 ban on open grazing introduced by the Federal Capital Territory Administration. The policy was designed to curb frequent clashes between herders and communities, as well as prevent traffic disruptions and accidents caused by roaming livestock.
Residents and road users have repeatedly raised concerns about the enforcement of the grazing ban, noting that cows are still often seen along highways and within urban areas of the capital. Monday night’s crash is the latest in a series of such incidents, highlighting ongoing gaps in regulation and compliance.
Authorities are yet to release an official statement on the crash or confirm whether any action will be taken regarding the presence of the cattle on the highway.
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Jobs
Job Vancancy: Moniepoint Job Vacancies in Abuja and North Central Nigeria
Leading Nigerian fintech company Moniepoint has announced six new job openings across Abuja and several states in the North Central region, expanding its workforce in compliance, technical operations, sales, and security management.
The vacancies cut across multiple departments, reflecting the company’s continued growth in agent banking, SME solutions, and digital financial infrastructure services.
Available Positions
Field Risk & Internal Control Officer (North Central)
- Team: Compliance
- Location: FCT, Nigeria
The role focuses on monitoring operational risks, enforcing internal control standards, and ensuring compliance across field operations in the region.
Apply Here
Hardware Engineer
- Team: Advanced Technical Operations
- Location: FCT, Nigeria
Successful candidates will handle hardware installation, maintenance, troubleshooting, and technical support for field operations.
Apply Here
Implementation Officer (North Central)
- Team: Moniebook Business Management Tools
- Locations: Benue, Plateau, FCT
This role involves onboarding merchants and ensuring smooth deployment of Moniepoint’s business tools across assigned regions.
Apply Here
Inbound Sales Officer (Abuja)
- Team: Moniebook Business Management Tools
- Location: FCT, Nigeria
The position focuses on handling inbound customer inquiries, converting leads, and supporting sales growth for Moniepoint business solutions.
Apply Here
Regional Lead, Corporate Security (North)
- Team: Moniepoint MFB
- Locations: FCT, Kano
The role oversees corporate security operations, risk prevention strategies, and protection of company assets across northern Nigeria.
Apply Here
Regional Lead, Field Risk & Internal Control (North)
- Team: Compliance
- Location: FCT, Nigeria
This leadership position is responsible for coordinating regional risk management teams and strengthening internal control systems.
Apply Here
The hiring drive comes as fintech companies in Nigeria continue to expand their physical and digital operations across underserved regions, particularly in agent banking and SME support services.
Moniepoint, one of the fastest-growing fintech firms in the country, has steadily increased recruitment in technical, compliance, and field operations roles over the past year.
With these openings, Moniepoint is strengthening its presence in Abuja and northern Nigeria while scaling its financial services infrastructure across the country.
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Business
Nigerians Slam Moniepoint CEO Over ‘Talent Quality’ Remarks Amid Hiring Debate
Comments by Tosin Eniolorunda, CEO of Moniepoint, have sparked a heated debate online after he questioned the quality of Nigeria’s talent pool while discussing his company’s hiring challenges.
Speaking at the The Platform Nigeria on May 1, Eniolorunda said the fintech firm had advertised over 500 vacancies since 2024 but struggled to find qualified local candidates. He revealed that by 2025, the company reversed its local-only hiring policy due to the shortage.
“I used to feel Nigerians are really bright… but we are still struggling to find Nigerians to fill those roles. They don’t meet global standards,” he said, attributing the gap to factors such as social media distractions, cybercrime, hookup culture, and weaknesses in the education system.
Backlash and Counterarguments
His remarks triggered swift backlash from Nigerians, particularly within the tech community, with many accusing local companies of failing to invest in talent development.
Critics argued that unlike global firms, Nigerian tech companies rarely offer structured, paid internship programs or training pipelines to groom young professionals. Some pointed to examples of international companies like Oracle Corporation, where internships and early talent programs serve as entry points into full-time roles.
Others shared personal experiences of being rejected by local firms despite strong resumes, while noting that Nigerian professionals continue to secure roles in global companies such as Amazon.
A recurring sentiment online was that many Nigerian companies demand “global-standard talent” but are unwilling to offer competitive compensation or career development opportunities.
Industry Perspective
Supporters of Eniolorunda’s stance, however, pointed to the realities of scaling a fast-growing fintech company in a competitive global market. They cited brain drain, limited specialized skills, and increasing demand for top-tier expertise as genuine challenges facing Nigerian startups.
Analysts say the controversy highlights a broader issue within Nigeria’s tech ecosystem balancing expectations between employers and job seekers, while addressing gaps in education, training, and remuneration.
The debate mirrors ongoing tensions around talent development, compensation, and hiring practices in Nigeria’s fast-evolving tech sector.
As companies expand and compete globally, the question of how to build, retain, and fairly reward talent is likely to remain a central issue.
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News
Outrage as Soldier Assaults Journalist Over Traffic Dispute in Lagos
A Nigerian soldier has allegedly assaulted a journalist, Fakoyejo Olalekan, during a traffic control operation in Lagos State, triggering widespread public condemnation after video footage of the incident surfaced online.
The clash occurred on May 2 near Pleasant Event Centre in Ikeja, where personnel of the Nigerian Army were reportedly directing heavy traffic.
According to eyewitness accounts, the altercation began after Fakoyejo remarked to passengers that a soldier’s handling of a motorcyclist had caused an unnecessary delay. The comment allegedly angered one of the soldiers, who ordered everyone out of the vehicle.
The situation escalated when the soldier reportedly slapped and shoved the journalist, and briefly reached for a piece of wood before bystanders intervened to prevent further escalation.
Video clips circulating on social media show at least two soldiers involved in the confrontation. During the incident, Fakoyejo’s phone screen was also seen shattered on the pavement. No serious injuries were reported.
The footage has since triggered widespread criticism online, with many users calling for accountability and questioning the conduct of military personnel during civilian traffic enforcement duties.
As of May 4, the Nigerian Army had yet to issue an official response despite being tagged in multiple public complaints and posts about the incident.
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