The CEO of the Student Loan Trust, Sheila Naa Boamah has refuted claims that the Student Trust loan fund (STLF) have spent US$178,080 as a two-year rent advance in June 2011.
Speaking on Radio Univers’ morning Show Campus Exclusive, Mrs. Sheila Boamah revealed that the fund is run by a board, responsible for taking key decisions for the fund, adding that reports making rounds about the misappropriation of funds by the STLF, was inaccurate, and aimed towards creating public attention.
According to Mrs. Sheila Boamah, there are on-going negotiations with the management of the University of Ghana to get a permanent structure at the University to serve as the office of the Student Trust Loan Fund.
She mentioned, that The fund has supported to over 82,000 students across the country, and hence needed a permanent office structure to carry out their daily activities.
“I have actually come to the University of Ghana and told them that considering the kind of services we run for University students, they should give us space to build our office close to the students, so they could come to us, but we are still in that discussion with them”
She further revealed, that the fund is governed by a bank of Ghana directive to transact business in Ghana Cedis and not any other foreign currency.
“There is a Bank of Ghana Directive that makes it illegal to conduct business in Ghana in dollars, so we will not do that, we are not conducting our business in dollars, we are paying in cedis”
The CEO, further advised students not to feel stigmatized when they come in for student loans. According to her, it is an opportunity to support their education. She urged all students to take advantage of the fund when need arises.
STLF established in 2006 has made some remarkable progress despite it challenges accessing for funds. The 2014 Auditor’s General’s report revealed, The STLF spent US$178,080 as a two-year rent advance in June 2011, According to recent media reports.
By: Mensa Duncan/Radio Univers105.7MHz
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