EFCC Clarifies N50 Billion Fund for NELFUND Not a Donation
The EFCC explained that the funds, which were recovered from criminal activities, were directed by President Bola Ahmed Tinubu to support the student loan scheme as part of his social intervention policy.
Binye-lum 
The Economic and Financial Crimes Commission (EFCC) has issued a press statement clarifying that the N50 billion remitted to the Nigerian Education Loan Fund (NELFUND) was not a donation, but part of the recovered proceeds of crime.
The EFCC explained that the funds, which were recovered from criminal activities, were directed by President Bola Ahmed Tinubu to support the student loan scheme as part of his social intervention policy. The Commission emphasized that it does not determine how recovered funds are allocated by the government.
EFCC Chairman Ola Olukoyde mentioned during a recent courtesy visit by NELFUND’s Managing Director and CEO, Mr. Akintunde Sawyerr, that the EFCC will oversee the use of these funds to ensure they are used effectively and transparently for the benefit of the student loan scheme.
