*Pix above: NECO students
All things being equal, the National Examinations Council (NECO) will now start paying the sum of N50,000 as a fee for the reprinting of certificates.
NECO Registrar, Dantani Wushishi, disclosed this in a statement in Minna, Niger State, adding that “the N50,000 fee for certificate reprints is subject to periodic review.”
The council further said requests for reprints, “will only be accepted within one year of the original certificate issuance. After this period, the council will no longer entertain such requests.”
In addition to the reprinting policy, NECO has set a one-month deadline for candidates to submit requests for the correction of results.
This timeframe begins from the date the results are officially released.
In a related development, the Federal Government has put forward amendments to the Tertiary Education Trust Fund (TETFUND) Act, proposing that 30% of its allocations from the Federation Account be redirected to fund the Nigerian Education Loan Fund (NELFUND).
During a State House briefing, Bayo Onanuga, the Special Adviser to the President on Information and Strategy, confirmed the proposed amendments, aimed at enhancing funding for Nigerian students’ access to higher education.
He explained that the Nigerian Education Loan Fund will be financed through these adjustments to ensure a sustainable source of financial support for students.
Onanuga stated, “Some people may have been wondering, how are we going to fund the loans we are giving to Nigerian students? Well, I think the government has provided an answer. Most of the funding will also come from the money going to the Tertiary Education Trust Fund.”
According to the proposal, 30% of TETFUND’s revenue from the Federation Account will now be allocated to NELFUND, created under the Students Loans (Access to Higher Education) Act, to offer student loans. This addresses concerns over how the government plans to sustain the loan initiative.
“So, there’s an amendment to the TETFUND Act that was made in 2011 that now says that the fund shall, before disbursement of the amount in the fund, set aside an initial one-third of the amount to be transferred to the Nigerian Education Loan Fund. That is, 30% of whatever TETFUND gets from the Federation Account will now be passed on to NELFUND, which will provide a ready funding source to NELFUND,” he said.
In addition, the bill places a 5% cap on NELFUND’s annual administrative expenses. The fund will not spend more than 5% of its annual income on operational costs, such as salaries, capital projects, and general services related to its functions to prioritize educational funding.
Onanuga further explained: “NELFUND has been pegged to spending only 5% of its income on its administration. Whether it wants to do capital projects in its office or pay salaries, it cannot spend more than five per cent of whatever accrues to it from the Federation Account.”///
