The Management of the Nigerian Education Loan Fund (NELFUND) says it has of received recovered proceeds of crime ₦50bn from the Economic and Financial Crimes Commission (EFCC).
A statement by NELFUND’s Director, Corporate Communications Nigerian Education Loan Fund, Oseyemi Oluwatuyi this Friday, states that the development follows directives from President Bola Tinubu.
The statement expresses pleasure for receiving the N50 billion from the Economic and Financial Crimes Commission (EFCC), stressing that with the support of the Federal government and the EFCC, NELFUND will continue to drive towards expanding access to tertiary education for all aspiring Nigerian youth and increasing the employability of well-educated graduates.
It further points out that by deciding to allocate these funds to the student loan scheme, President Tinubu has once again demonstrated his visionary leadership and commitment to fostering a brighter future for Nigerian students and to the socioeconomic advancement of Nigeria
“Their diligent work has ensured that these resources have been promptly made available to benefit the education of our nation’s youth. President Bola Ahmed Tinubu’s decision to direct these funds into NELFUND’s student loan scheme underscores the administration’s broader social intervention policy aimed at uplifting the most populous, yet disadvantaged segment of Nigerian society, the youth.
“This infusion of funds will significantly boost NELFUND’s ability to provide much-needed financial support to students, enabling them to pursue their academic aspirations without financial hindrance,” the statement noted.
The state however assures that NELFUND remains committed to utilizing these funds equitably, responsibly and efficiently, ensuring that they directly benefit those who need them the most and have already sought a partnership with EFCC to oversee the disbursement process.
