The Economic and Financial Crimes Commission (EFCC) says the
N50 billion it handed to the Nigerian Education Loan Fund (NELFUND) was not a
donation from the commission.
In his speech on the #EndBadGovernance protests on August 4,
President Bola Tinubu ordered the release of the sum to NELFUND.
“This week, I ordered the release of an additional
N50billion Naira each for NELFUND – the student loan, and Credit Corporation —
from the proceeds of crime recovered by the EFCC,” Tinubu said.
On Wednesday, there were reports that the EFCC “donated” the
sum to NELFUND.
In a statement on Thursday, Dele Oyewale, EFCC spokesperson,
said the fund was not a donation but “part of the recovered proceeds of crime
remitted to the government”.
“President Bola Ahmed Tinubu in furtherance of his social
intervention policy for the most vulnerable segments of the population, decided
in his wisdom, to plough the money into funding the critically acclaimed
students loan scheme,” the statement reads.
“It is not the place of the Commission to determine where
the government commits recovered proceeds of crime.
“But the student’s
loan scheme is a salutary innovation which has the potential to reduce youth
involvement in criminality.
“As the Commission’s Chairman, Ola Olukoyde disclosed during
a courtesy visit to the Commission by the NELFUND’s Managing Director and Chief
Executive Officer, Mr. Akintunde Sawyerr on August, 13, 2026, the EFCC will
monitor the use of the funds to ensure accountability and the realization of
the objectives of the Scheme.”
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com