NIMC, NELFUND Unveil Biometric Cards to Simplify Student Loan Disbursement

The National Identity Management Commission, Nigeria Education Loan Fund, and Data Mining Company signed an MoU to simplify student loans.

The agreement, signed in Abuja, introduces biometric-enabled cards to enhance transparency, financial inclusion, and accountability in educational loan disbursement.

NELFUND Managing Director, Akintunde Sawyer, described the MoU as a milestone that enables students to access loans through multiple digital wallets.

NIMC Director General, Abisoye Coker-Odusote, highlighted the cards’ role in ensuring verifiable identities, fraud prevention, and efficient loan utilization.

With online and offline functionality, the cards help students access allowances, buy books, and make transactions without banking delays.