@HaadiJimoh @kc_journalist The truth. The loans are for indigent students in government universities. Those in the private universities have rich parents.
One of the best way out from our forex issues is for Nigeria to join the BRICS and trade with fellow members in our respective local currencies. Here is how.
If you missed the CBN Governor's interview on Arise TV, here is a summary.
On FX Backlogs
- We met $7 Billion in unpaid obligations
- We had reason to believe we needed to take a harder look at those obligations.
- Deloitte was contracted to do a forensic audit of what is valid or not. The results were startling
-- $2.4 Billion had issues
-- Not having valid import documents
-- Entities did not exist got allocations
-- Entities who asked for FX got more than they asked.
-- Entities that did not ask got allocations
- We wrote to the authorized dealer to explain. Sadly much has not been disputed.
- $2.3 Billion of the validly executed ones including Airlines have been cleared.
- What remains is $2.2 billion. We are confident we will address those. We have come to the end of the road.
- The Naira remains undervalued
- The Naira will stabilise.
"Every interested Nigerian will go on to a portal and engage the App. He/she will have to put in certain pieces of information, which will make them eligible. It will include their UTME (Unified Tertiary Matriculation Examination) number and of course their date of birth.
“Further pieces of information include things like their National Identification Number (NIN), which confirms that they are Nigerians.
“The fund is going to come mostly from Nigerian taxpayers. So, it’s for Nigerians.The NINs will help us to verify and qualify them for the loan. Their BVN will also be required.
“This scheme will at some point, be able to empower students so we need to know that they have bank accounts.
“The applicants will also have to provide their admission numbers so that we can firmly establish which institution they are going to because one of the key elements of this is that once we’ve received applications and those applications are approved, the fees or the tuition requirements will be transferred directly to their institutions.
"That in itself has benefits for the institutions. Many students are struggling to pay tuition, their parents are struggling to pay. There’s a very high dropout rate.
“It is one thing to get into a tertiary institution and another to stay there for four or more years. This scheme seeks to help people access and remain in school until they graduate.
“Nigerians are qualified to apply and clearly you know there will be sifting. We are going to highlight those who are mostly in need in the first instance. Education is something that everybody should have a right to.
“The intention of the Act establishing the scheme is to ensure that the reason for one not being able to further his/her education at tertiary level is eliminated.
“The law also seeks to bridge the gap between the desire to study and the capacity to go further.
“This intervention will affect the lives of many Nigerian youths positively. It will impact many Nigerian families because the duty to pay for education falls on parents.”
Explaining further Adedeji said: “This is one of the schemes that we will be applying the Education Tax that we will collect.
“So, this is a way of being accountable to the taxpayer because the essence of Education Tax is to consolidate and restore education integrity and quality.”
Senator Adams Oshiomhole has personally complained to me that he made a mistake by supporting Governor Godwin Obaseki.
- Dr Blessing Agbomhere, Edo State APC Governorship Aspirant 2024
#SunriseDaily#CTVTweets