By Felix Khanoba
The Nigerian Education Loan Fund (NELFUND) and the National Identity Management Commission (NIMC) have signed a Memorandum of Understanding (MoU) to introduce multi-purpose Government-to-People (G2P) cards, towards streamlining student loan access and management.
The agreement was formalized on Friday at NELFUND’s headquarters in Abuja, with the Managing Director, Akintunde Sawyerr, NIMC Director-General Engr. Abisoye Coker-Odusote, and Data Mining Company Managing Director Mr. Femi Akande all present for the signing ceremony.
The G2P card, linked to the National Identity Number (NIN), is designed to facilitate direct access to upkeep loans. Students will be able to use the card for various electronic transactions, including point-of-sale (POS) purchases, ATM withdrawals, and online payments, without relying on traditional banking processes.
During the event, Akintunde Sawyerr described the partnership as a significant step toward financial inclusion, emphasizing its potential to promote transparency and accountability.
“This MoU is a groundbreaking event to drive financial inclusion, promote transparency and accountability through the deployment of Government-to-People Card,” Sawyerr stated.
He reiterated NELFUND’s commitment to the initiative, highlighting the opportunities it presents for students to access loans more easily through the biometric-enabled card system.
“I’m impressed with the work NIMC is doing, without NIMC NELFUND literally cannot function,” he added, acknowledging the pivotal role of identity verification in loan administration.
Sawyerr also commended President Bola Tinubu’s leadership, praising his administration’s efforts to improve students’ welfare through various socio-economic initiatives.
On her part, Engr. Abisoye Coker-Odusote, the Director-General of NIMC, explained that the biometric cards are part of NIMC’s efforts to foster digital and financial inclusion.
She noted that the cards come with multiple wallet features, usable both online and offline, allowing students to access loans and other essential services seamlessly.
“The biometric-enabled cards is unique in promoting digital and financial inclusion because of the layers of features in them. They cannot be forged or faked,” Coker-Odusote said.
She further emphasized the cards’ ability to track loan disbursements, ensuring funds are used as intended while eliminating unnecessary bureaucratic processes.
“They have features that make cash available in students wallets… the students can easily access their allowances, buy books and make transfers without waiting for banks. The cards operate online and offline,” she explained.
