President Bola Tinubu has approved the appointment of Mr. Jim Ovia, a renowned banker and businessman, as the chairman of the board of the Nigerian Education Loan Fund, NELFUND.

Presidential spokesman Ajuri Ngelale disclosed this in a statement on Friday.

Ovia is the founder of Zenith Bank and a respected business leader with a proven track record of benefaction towards nurturing and empowering young Nigerians.

Accordingly, the President believed Ovia would bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student is denied the pursuit of higher education over a lack of funds.

The development came after President Tinubu signed the amended copy of the student loan bill on April 3, 2024.

The student loan scheme aims to solve the hardships facing Nigerians.