The Economic and Financial Crimes Commission (EFCC) has issued a statement addressing recent media reports alleging that it donated N50 billion from its recovery account to the Nigerian Education Loan Fund (NELFUND). The EFCC clarifies that the funds in question are not a donation but part of the recovered proceeds of crime that have been remitted to the government.
President Bola Ahmed Tinubu, in alignment with his social intervention policies aimed at supporting vulnerable populations, has directed that this money be allocated to the Nigerian Education Loan Fund. This decision reflects the government's commitment to enhancing educational opportunities and reducing youth involvement in criminal activities.
EFCC Chairman, Ola Olukoyde, emphasized during a recent visit by NELFUND’s Managing Director and Chief Executive Officer, Mr. Akintunde Sawyerr, that the Commission will oversee the utilization of these funds to ensure proper accountability and the achievement of the scheme’s objectives.
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