NELFUND Receives ₦50 Billion Boost for Student Loans from EFCC Recovered Funds
NELFUND also extended thanks to EFCC Chairman Ola Olukayode for the efficient release of the funds. The infusion is expected to significantly boost NELFUND’s capacity to support students, helping them pursue academic goals without financial barriers.
Binye-lum 
The Nigerian Education Loan Fund (NELFUND) has received an additional ₦50 billion from the Economic and Financial Crimes Commission (EFCC), as directed by President Bola Tinubu. This transfer, announced on August 4, 2024, is aimed at enhancing NELFUND’s student loan program.
The substantial funds are part of President Tinubu's broader initiative to improve access to education by providing financial support to students across Nigeria. NELFUND's Managing Director/CEO, Mr. Akintunde Sawyerr, expressed gratitude to President Tinubu for his commitment to education and his support for vulnerable populations.
NELFUND also extended thanks to EFCC Chairman Ola Olukayode for the efficient release of the funds. The infusion is expected to significantly boost NELFUND’s capacity to support students, helping them pursue academic goals without financial barriers.
The allocation of these funds reflects the administration’s dedication to advancing educational opportunities and enhancing the socioeconomic development of Nigeria. NELFUND is committed to using these resources responsibly and has partnered with the EFCC to oversee the disbursement process.
