The Federal Ministry of Education, in collaboration with TETFund and Bank of Industry, has rolled out the Tertiary Institutions Staff Support Fund (TISSF), offering academic and non-academic staff in public tertiary institutions interest-free loans of up to ₦10 million each.
Key highlights of the scheme:
Repayable over 5 years
12-month moratorium (no repayment in first year)
Zero interest
248 institutions qualified, including: All federal universities, polytechnics & colleges of education
One state university, one state polytechnic & one state college of education per state
In the first phase already concluded: 33,000 staff applied
Over 9,000 staff (28%) from 219 institutions have received their funds
The initiative is designed to cushion financial hardship, boost morale, enhance productivity and reduce brain drain in Nigeria’s tertiary education sector.
More phases of disbursement are expected in the coming weeks. Staff in approved institutions are urged to complete verification to benefit from the scheme.
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com