Politics

Nigerian  News: FG suspense Gov. of central bank

 Emefiele maintaining secret $527 othekjr accounts and separate $47 billion foreign reserve account, according to a report

According to a security source, suspended Central Bank of Nigeria Governor Godwin Emefiele has been unilaterally managing a separate foreign reserve account on behalf of the nation without informing the Federal Government.

According to the article, Emefiele oversaw the establishment of two foreign reserve accounts for Nigeria, the second of which the Federal Government is unaware and which has a balance of roughly $47 billion.

The audit also found that CBN under Emefiele was operating no fewer than 527 private bank accounts with hidden public funds totaling several billions without the knowledge of the government.

These accusations against Emefiele, along with others, are made in a security report that was presented.

FG. START'S THE STUDENT LOAN SCHEME:

How to obtain a student loan

AN ACT TO PROVIDE EASY ACCESS TO HIGHER EDUCATION FOR NIGERIANS THROUGH INTEREST FREE LOANS FROM NIGERIAN EDUCATION BANK ESTABLISHED is the formal name of the Student Loan Bill, which was sponsored by Hon. Femi Gbajabiamila.

Following fulfillment of the following requirements, students asking for loans under this Act shall submit an application to the Chairman of the Bank through their respective institutions:

(i) The student must be enrolled in a public university, polytechnic, COE, or TVET in Nigeria.

Family or applicant income must be less than N500,000 annually;The applicant must offer at least two guarantors who are either civil servants with at least 12 years of level 12 service, lawyers with at least 10 years of post-call experience, or judicial officials.

Students who have defaulted on prior loans, been convicted of exam fraud, committed a felony, or engaged in drug use will not be taken into consideration. 

Students whose parents have failed on prior loans will not be taken into consideration.

A list of all qualified applicants from the institution, along with a cover letter signed by the Vice Chancellor, Rector, or other head of the institution and student affairs, must be provided with each application through the students affairs office of each school.

Any loan recipient mentioned in this Act must begin making payments two years after completing the National Youth Service Corps program.

(Repayment is to be made by the employer withholding 10% of the beneficiary's wage directly from the beneficiary's paycheck.

Any loan recipient mentioned in this Act must begin making payments two years after completing the National Youth Service Corps program.

(Repayment is to be made by the employer withholding 10% of the beneficiary's wage directly from the beneficiary's paycheck.

If the beneficiary is self-employed, he must deposit 10% of his monthly gross income into the bank's designated student loan account.