NELFUND Receives ₦50 Billion from Recovered Proceeds of Crime

By Emmanuel Kwada

NELFUND Receives ₦50 Billion from Recovered Proceeds of Crime

The Nigerian Education Loan Fund (NELFUND) has announced the receipt of an additional ₦50 billion from the Economic and Financial Crimes Commission (EFCC).

This follows President Bola Tinubu’s directive to transfer the funds to NELFUND to boost the student loan program.

The Managing Director/CEO of NELFUND, Mr. Akintunde Sawyerr, expressed pleasure and gratitude for the significant injection of funds, which represents a major milestone in the administration’s commitment to education.

NELFUND also acknowledged the EFCC’s swift action in releasing the funds,

The Nelfund thanked President Tinubu for his dedication to the education sector and his efforts to support vulnerable segments of the population. NELFUND also acknowledged the EFCC’s swift action in releasing the funds, led by Executive Chairman Ola Olukayode.

The funds will significantly boost NELFUND’s ability to provide financial support to students, enabling them to pursue their academic aspirations without financial hindrance. NELFUND remains committed to utilizing the funds equitably, responsibly, and efficiently, ensuring they directly benefit those who need them most.

The partnership with EFCC will oversee the disbursement process, driving forward the mission of expanding access to tertiary education for all aspiring Nigerian youth and increasing employability.

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