By kawaekwune Jeffrey
The Economic and Financial Crimes Commission (EFCC) has addressed recent media reports suggesting that it donated N50 billion to the Nigerian Education Loan Fund (NELFUND) from its recovery account.
The Commission clarified that the funds were not a donation but rather part of the recovered proceeds of crime that had been remitted to the government.
According to the federal government, the initiative which is In line with President Bola Ahmed Tinubu’s social intervention policy aimed at assisting the most vulnerable populations, the funds were allocated to support the student loan scheme. To the government, this move is a significant effort to reduce youth involvement in criminal activities by providing access to education.
While explaining the rationale behind the funds or its involvement, the EFCC emphasized that it does not decide how recovered funds are allocated by the government.
The EFCC Chairman, Ola Olukoyede further assured that the Commission will actively monitor the use of the funds to ensure they are used effectively and in accordance with the objectives of the student loan scheme.
The EFCC boss stated this when lithe NELFUND’s Managing Director and Chief Executive Officer, Mr. Akintunde Sawyerr, paid him a courtesy visit on August 13, 2024.
