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FG to Finance student loan scheme through education tax


January 23, 2024

The Federal Government has announced that the Student Loan Scheme expected to commence soon would have as one of its sources of funding, the Education Tax under the Federal Inland Revenue Service (FIRS).

The FIRS Chairman, Zacch Adedeji who revealed this while briefing the press at the Presidential Villa, Abuja alongside the Executive Secretary of the Board, Dr Akintunde Sawyerr, said the deployment of the education tax fund into the scheme is one way the government can be accountable to taxpayers in the country.

In his remarks, Sawyerr assured that the process of applying for the loan would be seamless and devoid of human interference as every action would be digitally monitored.

Our correspondent, Raliat Adenekan reports that the Executive Secretary also disclosed that the school fees for successful applicants would be paid directly to their institutions, as this scheme is to prevent Education tourism and capital flights.