NELFUND Receives ₦50 Billion from Recovered Crime Proceeds

The Nigerian Education Loan Fund (NELFUND), led by Managing Director/CEO Mr. Akintunde Sawyerr, has announced with pleasure the receipt of an additional ₦50 billion from the Economic and Financial Crimes Commission (EFCC). This funding comes following President Bola Tinubu's directive on August 4, 2024, instructing the EFCC to transfer the funds to NELFUND to enhance its student loan program.

This substantial financial boost marks a significant milestone in the administration’s commitment to improving educational access by supporting students throughout Nigeria. NELFUND extends its heartfelt gratitude to President Bola Ahmed Tinubu for his ongoing dedication to the education sector and his efforts to aid the country’s most vulnerable populations.

President Tinubu’s allocation of these funds to the student loan scheme reflects his visionary leadership and commitment to advancing Nigeria’s educational and socioeconomic development. NELFUND also expresses its thanks to the EFCC and its Executive Chairman, Ola Olukayode, for their prompt action in facilitating the fund release, ensuring that these resources are quickly available for the benefit of students.

This funding infusion will greatly enhance NELFUND’s ability to provide essential financial support, helping students achieve their academic goals without financial barriers. NELFUND is committed to managing these funds equitably and effectively, partnering with the EFCC to oversee the distribution process. With continued government and EFCC support, NELFUND aims to expand access to tertiary education and improve the employability of well-educated graduates across Nigeria.