By Damilola Adeleke

The National Identity Management Commission (NIMC), the Nigeria Education Loan Fund (NELFUND), and Data Mining Company have signed a Memorandum of Understanding (MoU) to introduce biometric-enabled cards for Nigerian students.

The agreement, signed at NELFUND headquarters in Abuja, aims to enhance student access to education loans, digital financial inclusion, and cash transfers.

Key Benefits of the Biometric-Enabled Cards

Seamless Loan Access: Students can obtain education loans directly.

Multiple Wallets: The card allows students to manage finances, make transfers, and purchase essential academic materials.

Transparency & Accountability: Ensures funds are used for their intended purposes, reducing bureaucracy.

Online & Offline Transactions: Students can access funds even without internet connectivity.

Stakeholder Remarks

Akintunde Sawyer (NELFUND CEO): Described the MoU as a groundbreaking step in driving financial inclusion for students, supporting President Bola Tinubu’s Renewed Hope Agenda.

Abisoye Coker-Odusote (NIMC DG): Emphasized that the biometric-enabled cards provide verifiable identities and cannot be forged, ensuring that beneficiaries receive and utilize their loans effectively.

This initiative is set to revolutionize financial access for Nigerian students, making education more accessible and affordable.