The collaboration between NELFUND and the EFCC is set to oversee the disbursement of these resources, which are aimed directly at benefiting the education of Nigeria’s youth.
The Nigerian Education Loan Fund (NELFUND), led by Managing Director/CEO Mr. Akintunde Sawyerr, has confirmed receiving an additional N50 billion from the Economic and Financial Crimes Commission (EFCC).
This was stated in a statement signed by Mrs. Oseyemi Oluwatuyi, Director of Corporate Communications at NELFUND, on Friday, in response to President Bola Tinubu's directive on August 4, 2024, instructing the EFCC to transfer the funds to NELFUND in order to improve the student loan program.
The statement reads, “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.”
NELFUND expressed its appreciation to President Tinubu.
The statement added, “NELFUND also wishes to acknowledge and thank the Economic and Financial Crimes Commission (EFCC) under the leadership of its Executive Chairman, Ola Olukayode for their swift action ensuring the release of the funds.
“Their diligent work has ensured that these resources have been promptly made available to benefit the education of our nation’s youth.”
Mr. Sawyerr noted that President Tinubu’s decision to allocate these funds to the student loan scheme demonstrates his visionary leadership and dedication to the socioeconomic advancement of the country.
NELFUND also extended gratitude to the EFCC, particularly its Executive Chairman, Ola Olukayode, for their swift action in ensuring the timely release of the funds.
The collaboration between NELFUND and the EFCC is set to oversee the disbursement of these resources, which are aimed directly at benefiting the education of Nigeria’s youth.
According to the organization, it remains committed to ensuring that the resources are utilized responsibly and efficiently, directly benefiting those in greatest need.
Meanwhile, SaharaReporters recently reported that the EFCC said the N50 billion it gave to NELFUND was not a donation as reported by some media organisations.
The anti-corruption agency in a statement issued by its Head of Media & Publicity, Dele Oyewale, said the fund was rather part of the recovered proceeds of crime remitted to the Nigerian government which the government decided to plough into students loan scheme.