Why are JAMB admission, NIN, and BVN requirements for student loans? By Frederick Femi Akinfala

The demand for higher education in Nigeria continues to rise, resulting in an increase in need for student financial support. Students can support their studies through student loan schemes offered by the government and financial institutions. Having worked as a lecturer and student advisor for more than a decade, I have seen countless cases of ‘ghost’ students in educational institutions.

These persons, though, not spectral beings, are essentially fake students who either gained illegal admission, fabricated admission letters or student ID cards, or were removed from the school’s records owing to academic deficiencies. Instead of heading home, these ghost students stay in school, wasting valuable time.

With the advent of the Nigerian Education Loan Fund (NELFUND), fake students pose a significant concern. While I have faith in NELFUND’s ability to address this problem through a diligent verification process, my apprehension lies in the repercussions of this grim reality on the affected students, their families, and society.

Nigeria’s path to prosperity has been fraught with challenges. Still, President Bola Tinubu’s ‘Renewed Hope Agenda,’ especially his initiatives in education and youth development, has reignited my hope for a brighter future. Through the student’s loan programme, President Tinubu aims to ensure equitable access, completion, and outcomes for all Nigerian students in tertiary institutions. Therefore, allowing ghost students and impostors to infiltrate the loan system undermines the President’s well-meaning policy.

Under the leadership of Mr Akintunde Sawyerr, NELFUND is committed to preventing ghost students from usurping opportunities meant for genuine and eligible applicants. This commitment extends to promoting inclusivity, accountability, transparency, and fairness in the loan disbursement process, regardless of gender, ethnicity, language, or religion. To ensure transparency and accountability in the disbursement of these loans, specific requirements such as a JAMB admission letter, the National Identification Number (NIN), and Bank Verification Number (BVN) have been put in place by the management.

The Joint Admissions and Matriculation Board (JAMB) admission letter proves a student’s acceptance into a tertiary institution in Nigeria. Requiring this document for the student’s loan application helps to verify the legitimacy of the applicant’s academic status. It ensures that only eligible students who have gained admission into recognised institutions can access funding for their education. This helps to prevent fraud, misrepresentation, and the diversion of funds meant for genuine students.

The National Identification Number (NIN) is a unique identification number issued by the National Identity Management Commission (NIMC). Requiring NIN for the student’s loan application helps to establish the identity of the applicant and prevents multiple applications or fraudulently obtained loans. It also enables the government and financial institutions to track and monitor loan recipients, thereby ensuring accountability in using borrowed funds. In addition, linking the NIN to the student’s loan helps to streamline the loan application process and reduce bureaucratic bottlenecks.

The Bank Verification Number (BVN) is a biometric identification system introduced by the Central Bank of Nigeria to curb fraud in the banking sector. Requiring the BVN for the student’s loan application helps to link the student’s stipend disbursements directly to the borrower’s bank account, providing a secure and transparent channel for funds disbursement. The BVN verification also helps to confirm the financial history of the loan applicant.

Non-compliance with these requirements not only hinders students’ access to funding but also undermines the integrity of the student loan scheme. It can lead to the misallocation of resources, delays in loan processing, and the potential misuse of funds by unqualified individuals.

Applicants who fail to provide a JAMB admission letter, NIN, and BVN for their students loan applications may be disqualified from accessing financial assistance for their education. Non-compliance with these requirements not only hinders students’ access to funding but also undermines the integrity of the student loan scheme. It can lead to the misallocation of resources, delays in loan processing, and the potential misuse of funds by unqualified individuals. Therefore, students need to ensure that they meet all the necessary criteria to qualify for loans and contribute to a transparent and efficient higher education funding system.

To curb fraudulent activities by ghost students, NELFUND has implemented the following measures:

1. Direct payment of tuition loans to institutions, with monthly stipends disbursed directly to the applicants.
2. The requirement for three key officers, the Vice Chancellor/Rector, the Registrar and Bursar, at institutions to confirm studentship before loans are disbursed to these institutions.
3. Utilisation of biometric verification methods, including fingerprint, iris scans, facial recognition, PINs, and mobile devices for authentication.
4. One-time passwords (OTPs) sent via SMS or email.
5. Collaborations with relevant educational bodies and government agencies for seamless communication and data verification.
6. Regular database audits to cross-check applicant information against institutional records.
7. Exclusion of students with criminal convictions from the loan scheme through data sharing with security and academic institutions.
8. Establishment of a rigorous monitoring system, including on-site inspections at educational institutions to confirm the presence of loan beneficiaries.

In conclusion, the requirements of a JAMB admission letter, NIN, and BVN are crucial in accessing the student’s loan in Nigeria. These requirements help to validate the academic status, identity, and financial history of loan applicants, thereby ensuring that funds are disbursed to genuine students who are committed to their education. Non-compliance with these requirements will result in disqualification from the student’s loan scheme and prevent students from accessing the financial support they need to pursue their academic aspirations. Therefore, students must adhere to these requirements and contribute to the integrity and sustainability of the students’ loan system in Nigeria.