President Bola Tinubu has signed the Student Loan Bill into law.
An aide to the president, Dele Alake, disclosed this to journalists on Monday evening. in Abuja.
The bill will enable Nigerian students to access loans at interest-free rates.
The Students Loan Bill recommended two years imprisonment or N500,000 or both for students who default in repayment or anyone found aiding defaulters.
The bill, which was sponsored by the outgoing Speaker of the House of Representatives, Mr Femi Gbajabiamila, was titled ‘A Bill for an Act to provide for easy access to higher education for Nigerians through an interest-free loan from the Nigerian Education Bank established in this Act to provide education for Nigerians and other purposes connected thereto.
