Over 2,000 Applications Received As FG Unveils N10m Interest-Free Loan Scheme For Tertiary Institutions Staff

The Federal Government has received over 2,000 applications for the newly unveiled Tertiary Institutions Staff Support Fund (TISSF), offering interest-free loans of up to N10 million to staff in tertiary institutions. The initiative aims to enhance staff welfare, promote professional development, and financial independence.

Education Minister Dr. Tunji Alausa stated that the fund will provide loans for medical support, transportation, enterprise, agriculture, academic advancement, and more.

The program, a joint initiative between the Federal Ministry of Education, Tertiary Education Trust Fund (TETFund), and Bank of Industry, aims to address the financial challenges faced by tertiary institution staff. Eligible staff members from federal and state institutions can access the loan, repayable over five years with a 12-month moratorium.

The online application portal is now open, with a focus on improving welfare, advancing careers, and strengthening institutions in the education sector. Managing Director of Bank of Industry, Dr.

Olasupo Olusi, emphasized the importance.