The Federal Government has launched the Tertiary Institution Staff Support Fund (TISSF), a loan scheme designed to enhance the welfare and professional development of academic and non-academic staff in universities, polytechnics, and colleges of education. The initiative was announced by the Minister of Education, Dr. Tunji Alausa.
The loan scheme allows eligible staff to access up to N10 million, repayable at 33.3% of their gross annual salary. The funds can be used for various purposes, including transportation, healthcare, or small-scale business ventures. The Bank of Industry (BOI) will manage the disbursement of the funds to ensure transparency and accountability.
The TISSF is designed to improve the welfare and professional development of tertiary institution staff. By providing access to affordable loans, the scheme aims to enhance the quality of life and productivity of staff, ultimately contributing to the improvement of the education sector.
The loan scheme is expected to benefit academic and non-academic staff in universities, polytechnics, and colleges of education. The funds can be used to address various financial needs, including transportation, healthcare, and small-scale business ventures.
The launch of the Tertiary Institution Staff Support Fund is a significant development in the Federal Government's efforts to support the education sector. The loan scheme is expected to improve the welfare and professional development of tertiary institution staff, ultimately contributing to the improvement of the education sector.
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