National Assembly member representing Borno South in the Senate, Sen Mohammed Ndume has commended the passage of a bill on interest-free loan for students by the two legislative bodies
Ndume told ANN in a phone interview the majority decision of the House came will help many Nigerian parents and students.
“It is a welcome development. It is even long overdue. It will help many parents and students especially at this critical economic period,” the senator said.
He said Nigerians deserve more supports, noting any law, policies or programme which can improve on the life of the people should be encouraged and sustained. He assured of his support for such legislation.
A retired university don and now traditiobal ruler in Ondo State, Prof Ebenezer Arifalo lauded the passage of the bill in free-interest loan for students but called for his sustainance.
“We’ve had such thing in the past. The Federal and state governments were paying bursaries to students but such supports were not sustained.
The Olu Kasemola in Akure North Local Government, Ondo State, said
He also expressed concerned such innovation could be rendered ineffective by corruption in the system as some individual could divert the fund availa in the bank to private pockets. .
The bill sponsored by the Speaker of House of Representatives, Femi Gbajabiamilay was passed on Tuesday and will be sent to President Muhammad Buhari for assent.
It is the first of its kind in the country and seeks to establish an
Education Bank which will offer interest-free loans to higher education students in the country.
“The bank shall have the powers to approve and disburse the loan to qualified applicants. It will also monitor the students’ loan account/fund and ensure compliance in respect of disbursement,” Speaker Gbajabiamila explained.
