LunagisthubTinubu Government Introduces N10 Million Loan Scheme for Tertiary Institution Employees
The Federal Government has recently announced the introduction of Tertiary Institutions Staff Support Fund (TISSF), which aims to offer financial support to the personnel of federal universities, polytechnics, colleges of education, and select state-owned tertiary institutions. This program seeks to strategically improve financial welfare, staff development, and overall financial well-being.
Active, full-time academic and non-academic staff of federal universities, polytechnics, colleges of education, and one state college per state.
Up to N10 million, subject to 33.3% of the gross annual salary ceiling.
Interest-free over 5 years, with a 12-month grace period before repayment starts.
Submission through a provided online platform (link unprovided), which has a streamlined pre-registration form alongside identity verification and subsequent clearance with the Bank of Industry.
Alleviating financial burdens is expected to improve staff morale and retention.
The support provided to staff aims to enhance institutional and academic performance, positively impacting student outcomes.
The program is designed to create comprehensive shifts in the workforce.
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