{"id":144166,"date":"2024-08-27T19:13:17","date_gmt":"2024-08-27T18:13:17","guid":{"rendered":"https:\/\/newsdigest.ng\/?p=144166"},"modified":"2024-08-27T19:13:17","modified_gmt":"2024-08-27T18:13:17","slug":"former-lawmaker-repays","status":"publish","type":"post","link":"https:\/\/thepublicpulse.ng\/?p=144166","title":{"rendered":"Former Lawmaker Repays Students Loan Debt After 48 Years"},"content":{"rendered":"

A former recipient of the Federal Government Student Loan Scheme has repaid his loan of N1,200, which he originally received between 1976 and 1979, with an amount totaling N3,189,217.00.<\/strong><\/p>\n

The Nigerian Education Loan Fund (NELFUND) announced on Tuesday in Abuja that the payment was made by Hon. Laoshe. <\/p>\n

The repayment amount was confirmed by Nasir Ayitogo, representing the Director of Corporate Communications at NELFUND.<\/p>\n

Hon. Laoshe, a past member of the House of Representatives and former Deputy Whip, acknowledged the significant role that the government\u2019s financial assistance played in his education. <\/p>\n

To determine the current equivalent of the original loan, Laoshe used historical exchange rate data obtained from the Central Bank of Nigeria (CBN). <\/p>\n

The 1979 exchange rate of $1.00 to N0.596 indicated that the N1,200 loan equated to $2,013.42 at the time. <\/p>\n

With today\u2019s exchange rate of $1.00 to N1,583.98, the repayment amount was calculated to be N3,189,217.00. <\/p>\n

Laoshe honoured his repayment obligation by issuing a bank draft for the amount through Polaris Bank Plc, expressing his gratitude to the Federal Government. <\/p>\n

NELFUND commended Hon. Laoshe for his integrity and contribution, reinforcing its commitment to advancing educational opportunities for Nigerian students.<\/p>\n","protected":false},"excerpt":{"rendered":"

A former recipient of the Federal Government Student Loan Scheme has repaid his loan of N1,200, which he originally received between 1976 and 1979, with an amount totaling N3,189,217.00. The Nigerian Education Loan Fund (NELFUND) announced on Tuesday in Abuja that the payment was made by Hon. Laoshe. The repayment amount was confirmed by Nasir […]<\/p>\n","protected":false},"author":1,"featured_media":144168,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[18],"tags":[311],"class_list":{"0":"post-144166","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-nelfund"},"yoast_head":"\nFormer Lawmaker Repays Students Loan Debt After 48 Years - The Public Pulse<\/title>\n<meta name=\"description\" content=\"A former recipient of the Federal Government Student Loan Scheme has repaid his loan of N1,200, which he originally received between 1976 and 1979, with an amount totaling N3,189,217.00.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thepublicpulse.ng\/?p=144166\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Former Lawmaker Repays Students Loan Debt After 48 Years - 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