Over 9,000 beneficiaries have been recorded as the Federal Ministry of Education, in collaboration with the Tertiary Education Trust Fund (TETFund) and the Bank of Industry, has rolled out the Tertiary Institutions Staff Support Fund (TISSF).
The new scheme is designed to improve the welfare of academic and non-academic staff across Nigeria’s tertiary institutions.
In a statement released on the official X handle of the National Orientation Agency on Monday, under the initiative, eligible staff of federal and selected state universities, polytechnics, and colleges of education can access interest-free loans of up to ₦10 million, repayable over a maximum of five years, following a 12-month moratorium.
According to details released by the Ministry, about 248 institutions nationwide have been cleared to participate in the programme.
These include all federal universities, polytechnics, and colleges of education, as well as one state university, one state polytechnic, and one state college of education in each state.
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The Ministry also confirmed that in the first phase of disbursement, more than 9,000 staff members of eligible institutions have already received payments under the scheme.
The over 9,000 beneficiaries account for 28 per cent of the 33,000 verified applicants drawn from around 219 federal and state tertiary institutions.
Source: Channels TV
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