Connect with us

News

BREAKING: Hon Laoshe Repays N3,189,217.00 FG Student Loan to NELFUND

Published

on

The Nigerian Education Loan Fund (NELFUND), on Tuesday, announced that Hon Lanre Laoshe, a former beneficiary of the Federal Government Student Loan Scheme, has graciously repaid his N1,200 student loan, received between 1976 and 1979, with the sum of N3,189,217.00.

In a statement on its official X handle, signed by Nasir Ayitogo For: Director, Corporate Communications, said that Hon Laoshe, a distinguished former member of the House of Representatives and a former Deputy Whip, who benefited from the defunct Federal Government Student Loan Scheme expressed his deep appreciation for the financial support he received from the Federal Government during his educational pursuit.

He stated that in order to determine the current equivalent of the N1,200 loan, he obtained a table of average annual exchange rates from 1972 to 1985 from sources at the Central Bank of Nigeria (CBN).

The table indicated that in 1979, the exchange rate was $1.00 = N0.596, meaning that the sum of N1,200.00 was equivalent to $2,013.42 at the time.

Using the current exchange rate of $1.00 = N1,583.98, Hon. Laoshe calculated that the equivalent amount today would be N3,189,217.00.

As a result, he issued a Polaris Bank Plc bank draft (No. 14670909) for this amount to NELFUND, marking his repayment as a token of gratitude to the Federal Government for the role it played in his educational journey.

This act of goodwill and integrity by Hon. Laoshe serves as an inspiring example of the impact that government support can have on individuals and highlights the importance of honoring one’s commitments.

NELFUND is deeply appreciative of Hon. Laoshe’s gesture and remains committed to supporting the educational aspirations of Nigerian students through its various programs.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

UPDATE: Four-storey building collapses in Lagos (Photos)

Published

on

A four-storey building has collapsed in Ojodu-Berger area of Lagos, with occupants trapped, and some feared dead.

Panic gripped residents when the uncompleted building suddenly collapsed on Saturday.

The building houses the popular Equal Right Restaurant.

The incident happened at about 11a.m., today.

As of press time, men of Lagos State Fire and Rescue Service, as well as the Lagos State Emergency Management Agency, LASEMA, who had been contacted have arrived at the scene.

See photos below:

Continue Reading

News

BREAKING: Many feared trapped, as Building collapses in Ojodu Lagos

Published

on

An unspecific number of people are believed to be trapped under an uncompleted storey building which collapsed in Lagos.

The building housing Equal Rights restaurant located at Oremeta Street, Ojodu Lagos, went down on Saturday morning.

It is believed, however, that some people are still trapped underneath the rubble.

Details later….

Continue Reading

Crime

Police rescue 10 kidnapped University of Benin students

Published

on

Edo State Police Command says it has rescued 10 University of Benin, UNIBEN, students abducted by suspected kidnappers at Ofosu area along the Benin-Ore expressway.

It was gathered that the students were on their way to Babcock University for Annual GYC Africa Conference when they were kidnapped on April 16 at the community bordering Edo and Ondo States.

The Public Relations Officer of the Command, Moses Yamu disclosed this in a statement made available to newsmen.

Yamu said the rescued students are eight males and two females.

He said during the rescue operation, one of the suspected kidnappers was killed, while other escaped with bullet wounds.

He also disclosed that one of the Police officers, an Inspector sustained gunshot injury and is currently responding to treatment in an undisclosed hospital.

The statement read: “The Command wishes to update the general public of the unfortunate kidnap of some students who were on their way to Babcock University for Annual GYC Africa Conference on 16/04/2025 at a location bordering Edo and Ondo States.

“On receipt of this information, the Commissioner of Police, Monday Agbonika, immediately deployed operatives of the Ohosu Division, IRT, tactical teams alongside vigilantes and hunters into the bushes for possible rescue of the victims and arrest of suspects.

“During the operation, operatives engaged in a gun duel with these kidnappers. In the process, one of the kidnappers was neutralised, while others escaped with bullet wounds.

“The operatives were cautious to avoid collateral damages as the kidnappers used the victims as human shields. Unfortunately, an Inspector of Police sustained a gunshot injury and is currently responding to treatment.

“This rescue effort eventually paid off as the ten (10) kidnapped students comprising eight (8) male and (2) females were released due to intense pressure mounted on them.”

Continue Reading

Trending