Loan - News Agency Of Nigeria

Tosin Kolade
Jun, Mon, 2025

Beware of fake loan portal, NELFUND alerts students

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By Funmilayo Adeyemi

The Nigerian Education Loan Fund (NELFUND) has warned students to be cautious of a fake portal with fraudulent messages currently circulating online.

This is contained in a statement in Abuja on Monday by the fund’s Director of Strategic Communications, Mrs Oseyemi Oluwatuyi.

Oluwatuyi said the information contained in the online messages were misleading.

“The attention of NELFUND has been drawn to a fraudulent message currently circulating online, falsely claiming that President Bola Tinubu has directed the reopening of the NELFUND Student Loan portal

“The portal is with a link to a fake website: https://nelfund-student-loan-2025.po-rt-al.com/NELFUND/

“We wish to categorically state that this website is FAKE, and the information contained in the message is false and misleading.

“The only official portal for the NELFUND Student Loan Application is: https://nelf.gov.ng, ” she said.

She urged the general public, especially students, parents, and guardians, to avoid clicking on unverified links and to never submit personal or financial information on suspicious websites.

She pledged NELFUND’s commitment to transparency, safety, and fairness in the loan application process adding that the Fund would always make announcements through its verified platforms.

She, however, appealed to students to report any suspicious messages or websites to the Fund via email at info@nelf.gov.ng.

Oluwatuyi also advised students to reach out through its official social media platforms: ‘X’ (formerly Twitter): @nelfund, Instagram: @nelfund, and Facebook & LinkedIn: Nigerian Education Loan Fund – NELFUND. (NAN)

Edited by Sadiya Hamza

Nigeria secures m loan to boost women-owned businesses

Ismail Abdulaziz
Dec, Fri, 2024

Foreign

Nigeria secures $50m loan to boost women-owned businesses

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By Kamal Tayo Oropo

The Bank of Industry (BoI) has secured a 50 million dollars loan portfolio from the African Guarantee Fund (AGF).

This is in a bid to empower women entrepreneurs and drive economic growth in Nigeria.

This innovative guarantee framework agreement is backed by the African Development Bank’s (AfDB) Affirmative Finance Action for Women in Africa (AFAWA) initiative.

The loan, which will be disbursed over a 10-year period, is expected to scale up BoI’s lending to Small and Medium Enterprises (SMEs) in the country, with a focus on women-owned businesses and environmentally sustainable enterprises.

Dr Olasupo Olusi, Managing Director and Chief Executive Officer of BOI, spoke on the sidelines of the Africa Investment Forum, Market Days 2024, which ends on Friday in Rabat, Morocco.

Olusi said that the partnership would propel Nigeria’s industrial sector by providing financial and business support services to enterprises.

“Today, we signify a collaboration that promises to drive inclusive growth, innovation, and sustainable development,” he said.

The News Agency of Nigeria (NAN) reports that the AGF will also provide tailored guarantees and technical assistance toward special SME products offered by BOI, targeting women, youth and green businesses.

This agreement is expected to unlock up to 100 million dollars in financing for SMEs in Nigeria.

According to Olusi, the partnership is a significant step towards promoting economic growth and reducing unemployment in Nigeria.

He said it also aligned with the Renewed Hope agenda of President Bola Tinubu’s administration.

The African Development Bank’s Vice President, Agriculture, Human and Social Development, Dr Beth Dunford, emphasised the bank’s commitment to empowering women entrepreneurs and fostering economic growth in Nigeria.

“This strategic partnership is a beacon of hope and progress for African businesses, particularly those led and owned by women,” she said.(NAN) (www.nannews.ng)

Edited by Ismail Abdulaziz