FG launches N10m interest-free loan scheme for tertiary institution staff

By Joseph Erunke

Abuja -The Federal Government, yesterday, officially launched the Tertiary Institutions Staff Support Fund, TISSF, a welfare and empowerment programme for staff of federal universities, polytechnics, colleges of education, and selected state-owned tertiary institutions.

Speaking at the event, Minister of Education, Dr. Tunji Alausa, said the scheme offers interest-free loans of up to N10 million to successful applicants, repayable over five years with a 12-month grace period.

The loans, he explained, would support medical needs, transportation, vehicle purchase, small-scale enterprises, agriculture, academic advancement, professional certifications, and capacity-building programmes.

“This programme is not just a welfare package. It is a strategic empowerment platform to give our academic and non-academic staff the financial stability they need to serve our students with dedication and live with dignity,” Alausa said.

He explained that the TISSF is part of President Bola Tinubu’s renewed hope reform agenda for education, placing people at the centre of educational transformation. The initiative is a joint effort of the Federal Ministry of Education and the Tertiary Education Trust Fund,TETFund, implemented in partnership with the Bank of Industry,BoI.

The scheme targets confirmed full-time academic and non-academic staff with at least five years to retirement and membership in recognised staff unions (ASUU, NASU, COEASU, SSANIP). It covers all federal tertiary institutions and one state-owned university, polytechnic, and college of education per state — a total of 248 eligible institutions. Applications are processed online via www.tissf.boi.ng, with identity verification and vetting by BoI.

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