The Economic and Financial Crimes Commission (EFCC) has released N50 billion to the Nigerian Education Loan Fund (NELFUND) from recovered assets to support the student loan scheme.
The Managing Director and CEO of NELFUND, Mr. Akintunde Sawyerr, led his management team on a courtesy visit to the EFCC headquarters in Abuja, where he acknowledged the Fund’s introduction by President Bola Tinubu’s administration to support underprivileged students’ education.
Sawyerr expressed concern over the inadequate progress in developing youths within the nation’s education sector, despite the Fund’s efforts.
The EFCC’s website stated that Sawyerr appreciated the commission’s N50 billion injection into NELFUND from proceeds of crime recovered by the EFCC.
Sawyerr requested EFCC oversight on NELFUND’s activities, emphasizing the importance of transparency.
He highlighted the significance of NELFUND in providing funding for indigent students’ education and commended EFCC for the N50 billion injection.
Sawyerr identified lack of parental educational support as a contributing factor to children’s involvement in financial crimes.
He praised President Tinubu for initiating NELFUND, a policy aimed at addressing crime through education.
The EFCC boss advised NELFUND’s management to ensure transparency in their dealings, emphasizing the importance of clean hands in fighting corruption.
He tasked NELFUND’s management to report disbursements to EFCC and committed to preventing the N50 billion donation from being “re-looted.”
Olukoyede urged Nigerians to ensure the success of NELFUND and the Tinubu-led administration’s initiatives.
