…President Bola Tinubu on August 4th, directed recovered proceeds of crime be transferred to NELFUND to further boost the student loan program.
FRI AUG 23 2024-theGBJournal| The Nigerian Education Loan Fund (NELFUND), says it has received additional N50 billion from the Economic and Financial Crimes Commission (EFCC), recovered proceeds of crime President Bola Tinubu on August 4th, directed should be transferred to NELFUND to further boost the student loan program.
Managing Director/CEO, Akintunde Sawyerr, revealed the latest receipt from the EFCC saying, ”this 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 fund extends its deepest appreciation to President Bola Ahmed Tinubu for his unwavering dedication to the education sector and his continued efforts to support the most vulnerable segments of the population,” he adds.
Sawyerr said President Tinubu’s decision to direct these funds into NELFUND’s student loan scheme underscores the administration’s broader social intervention policy aimed at uplifting the most populous, yet disadvantaged segment of Nigerian society, the youth.
This infusion of funds, he said, ”will significantly boost NELFUND’s ability to provide much-needed financial support to students, enabling them to pursue their academic aspirations without financial hindrance.”
He said NELFUND remains committed to utilizing these funds equitably, responsibly and efficiently, ensuring that they directly benefit those who need them the most and have already sought a partnership with EFCC to oversee the disbursement process.
”With the support of the government and the EFCC, NELFUND will continue to drive forward the mission of expanding access to tertiary education for all aspiring Nigerian youth and increasing the employability of well educated graduates in both the academic and vocational sectors.”
Meanwhile, 19 institutions, 27,667 students in nineteen institutions in the country has received a total of N2,946,927,155 from NELFUND since the programme began.
University of Maiduguri (N589,001,500) tops the list of recipients institutions followed by the University of Ibadan (N201,114,650).
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