Business
MAPOLY Students Begin Receiving Student Loan Payments
Students at Moshood Abiola Polytechnic (MAPOLY) in Abeokuta have begun receiving credit alerts for the student loans they applied for, according to the institution’s Rector, Dr. Adeoye Odedeji.
Speaking at the inauguration ceremony of the newly-elected Students Union Government (SUG) members on Friday in Abeokuta, Dr. Odedeji confirmed that several students had already received the funds in their bank accounts.
The Rector expressed satisfaction with the swift disbursement of the loans, noting that it would significantly ease the financial burden on many students and enable them to focus more on their studies.
He commended both the students and the administration for their cooperation in ensuring a smooth application process.
Dr. Odedeji further highlighted the importance of the student loan program in promoting access to higher education, especially for those facing financial difficulties.
He encouraged students who had not yet applied for the loans to take advantage of the opportunity, emphasizing that the initiative is designed to support their academic journey and future success.
The event also marked the official swearing-in of the new SUG leaders, where Dr. Odedeji called on them to be proactive in representing the student body and working collaboratively with the institution’s management to foster a positive and productive campus environment.
Ecobank Group is reportedly set to raise up to $250 million through an Additional Tier 1 (AT1) capital offering in order to strengthen the bank’s capital base.
This was revealed during the company’s annual general meeting held in Togo on the 29th of May, 2025. According to the meeting, the bank stated that the conversion price for the shares will be based on the higher of the prevailing exchange rate and the floor price of $0.02 per ordinary share.
The speaker stated “As we cast our eyes into the future and reimagine all possibilities—rising competition from banks, fintechs, and non-bank financial institutions, as well as factors such as geopolitics, regulations, and capital markets—we cannot afford complacency.”
The Central Bank of Nigeria (CBN) recently assured stakeholders about the state of the banking sector in Nigeria, stating that the banking sector can still be trusted and is secure.
The assurance was shared in a statement signed by Hakama Sidi Ali, Acting Director of Corporate Communications at the CBN. In the statement, it was emphasized that stakeholders should disregard any negative news concerning the banking sector, as such reports are misleading.
The CBN also highlighted the security of the deposits entrusted to it, stating, “There is no reason for the public to worry about the security of their deposits.” The extent of the measures and security in place was also emphasized by the director in the statement.
Nigerian Businessman Dr. Cosmos Maduka analyzes popular Billionaire, Aliko Dangote and describes him as the biggest debtor in Nigeria.
The businessman highlighted the fact that people who seem to have the most money are often the largest debtors.
“The number one debtor in Nigeria is Aliko Dangote. He’s the wealthiest man in Africa. The number one debtor in the world is the United States of America and you call them the richest in the world.”
“As you admire all of those things, it’s all credit. It’s all about credit. So you should leverage on loan, but you have to have a good structure that will support that loan.”
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