Nigerian Government has launched the Tertiary Institutions Staff Fund, TISSF, for academic and non-academic staff to access loans as much as N10 million, with zero interest.
At the launch in Abuja, the Education Minister, Dr. Tunji Alausa said the workers with five years to retirement are not qualified as time of repayment is five years, with deductions from source, on twelve months moratorium basis.
The Minister warned institutions against foul play in implementation of the scheme as there will be consequences.
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Meanwhile, Chairman of the House of Representatives Committee on Tertiary Education, Abubakar Fulata who joined heads of tertiary institutions and union leaders to applaud the initiative asked the executive to pay a minimum salary of N1 million to the least lecturer in the country’s institutions.
According to officials of the Federal Ministry of Education, the portal for the loan application is already opened.
(Editor: Terverr Tyav)
