NELFUND, NIMC To Roll Out Biometric G2P Cards For Students
The National Identity Management Commission (NIMC) has entered into a Memorandum of Understanding (MoU) with the Nigerian Education Loan Fund (NELFUND) to roll out multi-purpose Government-to-People (G2P) cards for students, aimed at improving access to loans and administration.
The MoU, signed by NELFUND’s Managing Director, Akintunde Sawyerr, NIMC’s Director-General, Engr. Abisoye Coker-Odusote, and the Managing Director of Data Mining Company, Mr. Femi Akande, took place at the NELFUND headquarters in Abuja on Friday.
The National Identity Number (NIN)-enabled G2P cards are payment-enabled and will allow students to directly access their upkeep loans, eliminating the need for waiting on banks. The card can also be used for various electronic services such as point of sales (PoS), automated teller machines (ATM), and online payments.
Sawyerr described the MoU as a significant step toward promoting financial inclusion and transparency. He expressed NELFUND’s commitment to the project and emphasized that the MoU would provide Nigerian students with seamless access to loans via the biometric-enabled cards, facilitated by NIMC.
“I’m impressed with the work NIMC is doing; without NIMC, NELFUND literally cannot function,” Sawyerr said, further praising President Bola Tinubu for his socio-economic initiatives, which he believes will positively impact Nigerian students.
On her part, Coker-Odusote explained that the biometric-enabled cards are part of NIMC’s initiative to drive digital and financial inclusion, ensuring that every beneficiary of government services has a verifiable identity. She noted that the cards offer multiple wallets for students, enabling them to access loans and other services both online and offline.
She further highlighted the transparency and accountability benefits, stating that the cards would allow for better tracking of loan disbursement and ensure that funds are used as intended, while eliminating unnecessary bureaucracy.
“The biometric-enabled card is unique in promoting digital and financial inclusion because of the layers of features in them. They cannot be forged or faked,” Coker-Odusote added. “They also allow students to easily access allowances, purchase books, and make transfers without waiting for banks. The cards operate both online and offline.”
This collaboration between NELFUND and NIMC marks a significant step towards enhancing financial access and inclusion for Nigerian students.
