In a strategic move to improve financial accessibility for Nigerian students, the National Identity Management Commission (NIMC) has partnered with the Nigerian Education Loan Fund (NELFUND) to roll out multi-purpose Government-to-People (G2P) cards.
This new initiative, which aims to streamline access to student loans, was formalised through a Memorandum of Understanding (MoU) signed on Friday at NELFUND’s headquarters in Abuja.
The MoU was signed by NELFUND’s Managing Director, Akintunde Sawyerr, NIMC’s Director-General, Engr. Abisoye Coker-Odusote, and Femi Akande, Managing Director of Data Mining Company.
The biometric-enabled G2P cards, which integrate the National Identity Number (NIN), offer students a seamless way to access their loans directly through multiple wallets, without the usual dependency on banks.
These cards can be used for Point of Sales (POS), Automated Teller Machines (ATMs), and web payments, allowing for a more efficient loan administration process.
Akintunde Sawyerr hailed the partnership as a transformative step towards driving financial inclusion for students.
He stressed the significance of the initiative in promoting transparency and ensuring the effective delivery of government services.
“I’m impressed with the work NIMC is doing; without NIMC, NELFUND literally cannot function, noting the pivotal role NIMC plays in verifying student identities for loan processing,” he stated.
Director-General of NIMC, Engr. Abisoye Coker-Odusote outlined the key benefits of the new biometric-enabled cards, explaining that they would ensure a verifiable identity for each student benefiting from government loans.
“These cards promote digital and financial inclusion, ensuring that students can easily access their allowances, make purchases, and perform transfers without waiting for banks,” she emphasised.
The cards, she added, would help track loan disbursement and ensure the funds are used for their intended purposes, thereby fostering greater accountability and reducing bureaucratic delays.
Both NELFUND and NIMC have expressed commitment to the success of the program, aligning it with the broader socio-economic reforms championed by President Bola Tinubu’s administration.
