Nigerian Education Loan Fund Confirms Receiving ₦50bn From EFCC

The Nigerian Education Loan Fund (NELFUND) has received an additional N50 billion from the Economic and Financial Crimes Commission (EFCC).

This follows the Federal Government’s earlier injection of N60 billion into the fund EKO HOT BLOG reports.

Mrs. Oseyemi Oluwatuyi, NELFUND’s Director of Corporate Communications, announced this development on Friday in Abuja. The release of the funds was directed by President Bola Tinubu on August 4 to enhance the student loan program.

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Oluwatuyi stated that this substantial funding represents a significant milestone in the administration’s efforts to improve access to education by supporting students across Nigeria. She expressed gratitude to President Tinubu for his dedication to education and to the EFCC, under Executive Chairman Ola Olukayode, for their prompt action.

NELFUND has ensured that these resources are promptly utilized to benefit the education of Nigerian youths. The decision to direct the funds into the student loan scheme underscores the administration’s broader social intervention policy aimed at uplifting the population.

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This financial boost will significantly enhance NELFUND’s capacity to provide essential support to students, enabling them to pursue their academic goals without financial barriers. NELFUND remains committed to using the funds equitably and efficiently to maximize their impact on education.

The EFCC had pledged to release the N50 billion on August 13, following a courtesy visit by NELFUND’s Managing Director and CEO, Mr. Akintunde Sawyerr, to the EFCC headquarters in Abuja.

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