By Kawaekwune Jeffrey
The Nigerian Education Loan Fund (NELFUND) has announced the receipt of the sum of ₦50 billion from the Economic and Financial Crimes Commission (EFCC). This follows an initiative by President Bola Tinubu on August 4 to deploy funds to the NELFUND to help bolster the country’s student loan program.
Mrs. Oseyemi Oluwatuyi, NELFUND’s Director of Corporate Communications who disclosed this development on Friday, described this financial support as a significant step in improving access to education in Nigeria. She noted that the fund would provide essential financial aid to students in need as well as enable broader educational opportunities for Nigerian youth.
Oluwatuyi expressed gratitude to Tinubu for his commitment to the advancement of the nation’s educational sector.
She said: “This demonstrates the President’s visionary leadership and dedication to the future of Nigerian students.”
The NELFUND spokesperson also showered praises on the EFCC, led by its Executive Chairman Ola Olukayode, for what she described as” timely transfer of the funds.”
Oluwatuyi noted that the quick release of the N50bn aligns with the Federal government’s wider social intervention strategy aimed at supporting the nation’s vulnerable populations.
“This financial boost will enhance NELFUND’s ability to assist students in achieving their academic goals without the burden of financial constraints,” Oluwatuyi remarked.
She assured the public that NELFUND would manage the funds efficiently and ensure they benefit the students who need them most.
It would be recalled that the Economic and Financial Crimes Commission (EFCC) had on August 14, clarified media reports suggesting that it donated N50 billion to the Nigerian Education Loan Fund (NELFUND) from its recovery account.
The Commission had explained that the funds were not a donation but rather part of recovered proceeds of crime that had been remitted to the government.
The NELFUND is an initiative of the Tinubu administration to assist Nigerian students in having access to appropriate loans to facilitate the payment of their fees in Nigerian tertiary institutions.
