The Economic and Financial Crimes Commission (EFCC) has issued a statement clarifying recent media reports that suggested the Commission donated N50 billion to the Nigerian Education Loan Fund (NELFUND) from its recovery account.
In the press release dated August 14, 2024, the EFCC emphasised that the N50 billion was not a donation but part of the proceeds of crime recovered by the Commission and remitted to the government.
The statement was signed by Dele Oyewale, Head of Media & Publicity for the EFCC.
It explained that President Bola Ahmed Tinubu, as part of his social intervention policies aimed at supporting vulnerable populations, decided to allocate the recovered funds to the students’ loan scheme, a move that has been widely praised.
The EFCC underscored that it is not within its purview to determine how the government utilises recovered assets.
However, the Commission acknowledged that the student loan scheme is a positive initiative with the potential to reduce youth involvement in criminal activities.
During a courtesy visit by NELFUND’s Managing Director and Chief Executive Officer, Mr. Akintunde Sawyerr, to the Commission on August 13, 2024, EFCC Chairman Ola Olukoyede assured that the Commission would closely monitor the use of the funds to ensure accountability and the achievement of the scheme’s objectives.
For information on Press Releases, Photos, Promotional Events and Adverts, Please message us on WhatsApp via (+234) 09052129258, 08124662170 or send an email to: info@educeleb.com.
