Student loan: NELFUND gets additional N50bn from EFCC

The Nigerian Education Loan Fund, NELFUND, said it has received an additional N50 billion from the Economic and Financial Crimes Commission, EFCC, to enhance its efforts in providing financial assistance to students nationwide.

The money, which is part of the recovered proceeds of crime by the nation’s anti-graft agency, was released to the students’ loan agency following a directive to that effect by President Bola Tinubu.

This is contained in a statement by NELFUND Director, Corporate Communications, Mrs Oseyemi Oluwatuyi, on Friday in Abuja.

She said the infusion of funds will significantly boost the agency’s ability to provide much-needed financial support to students, enabling them to pursue their academic aspirations without financial hindrance.

According to the statement, the management of NELFUND, under its Managing Director/CEO, Mr. Akintunde Sawyerr, has expressed its pleasure as it received an additional N50 billion from the EFCC.

It said that the significant injection of funds represents a major milestone in the administration’s commitment to bolstering access to education by providing financial support to students across Nigeria.

The statement added that NELFUND extends its deepest appreciation to President Bola Tinubu for his unwavering dedication to the education sector and his continued efforts to support the most vulnerable segments of the population.

“By deciding to allocate these funds to the student loan scheme, President Tinubu has once again demonstrated his visionary leadership and commitment to fostering a brighter future for Nigerian students and to the socioeconomic advancement of Nigeria.

“NELFUND also wishes to acknowledge and thank the Economic and Financial Crimes Commission (EFCC), under the leadership of its Executive Chairman, Ola Olukayode, for their swift action ensuring the release of the funds,” the statement added.