The National Identity Management Commission (NIMC) has entered into a Memorandum of Understanding (MoU) with the Nigerian Education Loan Fund (NELFUND) to facilitate the rollout of multi-purpose Government-to-People (G2P) cards for students. This initiative aims to improve access to loans and streamline administration processes.
The MoU was signed at NELFUND’s headquarters in Abuja by Akintunde Sawyerr, Managing Director of NELFUND; Engr. Abisoye Coker-Odusote, Director-General of NIMC; and Mr. Femi Akande, Managing Director of Data Mining Company.
According to an official statement, the NIN-enabled G2P cards will support payments, allowing students to directly access their upkeep loans without the need to wait for bank processes. The cards will also enable students to perform various electronic transactions, including point of sale (POS) payments, ATM withdrawals, and online payments.
In his remarks, Akintunde Sawyerr described the MoU as a groundbreaking step towards advancing financial inclusion and promoting transparency and accountability through the G2P cards. He reaffirmed NELFUND’s commitment to the project, emphasizing that the biometric-enabled cards will allow students to access loans seamlessly through multiple wallets.
Sawyerr also acknowledged the critical support provided by NIMC in ensuring efficient loan administration and disbursement by offering essential identity verification services.
Engr. Abisoye Coker-Odusote, the Director-General of NIMC, explained that the biometric-enabled cards are part of NIMC’s broader strategy to drive both digital and financial inclusion. He highlighted that these cards will ensure that every student benefiting from government services, such as loans, has a verifiable identity.
Additionally, Coker-Odusote noted that the biometric-enabled cards feature multiple wallets, enabling students to access loans and other services both online and offline.
