- Safiu Kehinde
The National Education Loan Fund (NELFUND) has confirmed the collection of N50 billion recovered funds from the Economic and Financial Crimes Commission (EFCC) to the students’ loan scheme.
This was disclosed in a statement signed in NELFUND’s spokesperson, Oseyemi Oluwatuyi, and post on its official X handle on Thursday.
As contained in the statement, the release follows the directive of President Bola Tinubu in his speech on 4th August, 2024, directing the EFCC to transfer the funds to NELFUND to further boost the student loan program.
NELFUND stressed that the released fun will boost the body’s ability to provide much-needed financial support for students.
It disclosed that the funds will be effectively utilized and disbursed while commending the effort of President Tinubu in effecting the donation to the students loan scheme.
The statement read in part; “The Management of Nigerian Education Loan Fund (NELFUND), under the leadership of its Managing Director/CEO, Mr Akintunde Sawyerr has expressed its pleasure as it receives an additional N50 billion from the Economic and Financial Crimes Commission (EFCC).
“The release follows the directive of President Bola Tinubu in his speech on 4th August, 2024, directing the EFCC to transfer the funds to NELFUND to further boost the student loan program.
“This significant injection of funds represents a major milestone in the Administration’s commitment to bolstering access to education by providing financial support to students across Nigeria.
“The fund extends its deepest appreciation to President Bola Ahmed Tinubu for his unwavering dedication to the education sector and his continued efforts to support the most vulnerable segments of the population.”