BREAKING: Tinubu orders diversion of EFCC-recovered funds to student loan scheme
The directive aims to make the student loan fund sustainable as more than 1.2 million students already benefit, the minister said.
- On Wednesday, the Federal Executive Council directed that liquid funds recovered by the Economic and Financial Crimes Commission be transferred to the Nigerian Education Loan Fund to strengthen its financing operations.
- Education Minister Tunji Alausa announced the government will also mobilize resources from the Unclaimed Dividends Trust Fund and Dormant Accounts Trust Fund, aiming to place NELFUND on a sustainable financial footing.
- More than 1.2 million Nigerian students currently benefit from NELFUND, with the organization having disbursed more than N93 billion in upkeep allowances to students attending federal and state-owned public institutions.
- Minister Alausa noted that transfers apply only to liquid funds no longer subject to litigation, with the Attorney-General working alongside the EFCC chairman to establish a formal legal framework for implementation.
- The FEC also approved N155bn to complete the abandoned National Library in Abuja, with construction resuming soon using funds from the Tertiary Education Trust Fund and First Lady Senator Oluremi Tinubu's requested donations.
23 Articles
23 Articles
Tinubu orders EFCC cash recoveries, unclaimed dividends to fund student loans
Mr Alausa said the directive is aimed at strengthening NELFUND’s finances as demand for student loans continues to grow. The post Tinubu orders EFCC cash recoveries, unclaimed dividends to fund student loans appeared first on Premium Times Nigeria.
Tinubu Directs Seized Funds By EFCC, Unclaimed Dividends From Capital Market Be Channeled to Nelfund
Abuja -- President Bola Tinubu on Wednesday directed that all funds recovered by the Economic and Financial Crimes Commission (EFCC) be channelled into the Nigerian Education Loan Fund (NELFUND) to support the tertiary education of Nigerian students.
FEC orders EFCC to release recovered loot to NELFUND
The Federal Executive Council (FEC) has directed that looted funds recovered by the Economic and Financial Crimes Commission (EFCC) be handed over to the Nigerian Education Loan Fund (NELFUND) to strengthen its financing operations. Addressing State House correspondents after the Federal Executive Council meeting on Wednesday in Abuja, the Minister of Education, Dr Tunji Alausa, said FEC also directed that funds in the Unclaimed Dividends Trust …
BREAKING: Tinubu orders diversion of EFCC-recovered funds to student loan scheme
President Bola Tinubu has ordered that funds recovered by the Economic and Financial Crimes Commission, EFCC, be diverted to the Nigerian Education Loan Fund, NELFUND, to sustain its growing funding obligations. The Minister of Education, Dr Tunji Alausa, disclosed this on Wednesday after the Federal Executive Council, FEC, meeting in Abuja. According to him, said […] BREAKING: Tinubu orders diversion of EFCC-recovered funds to student loan sche…
Tinubu directs EFCC to channel seized funds, unclaimed dividends to NELFUND
By Johnbosco Agbakwuru ABUJA — President Bola Tinubu has directed the Economic and Financial Crimes Commission (EFCC) to channel all seized funds, unclaimed dividends, and trust funds to the Nigerian Education Loan Fund (NELFUND). NELFUND is a federal government agency established under the Student Loans (Access to Higher Education) (Repeal and Re-enactment) Act, 2024, which […] The post Tinubu directs EFCC to channel seized funds, unclaimed div…
Tinubu orders EFCC recovered loot, unclaimed dividends, dormant funds channelled to NELFUND - OGUN STATE TELEVISION
President Bola Ahmed Tinubu has directed that all cleared and unencumbered looted funds recovered by the Economic and Financial Crimes Commission (EFCC) be channelled to the Nigerian Education Loan Fund (NELFUND) to strengthen the financing of tertiary education. The President also directed that funds in the Unclaimed Dividends Trust Fund and the Dormant Accounts Trust Fund be mobilised for NELFUND, subject to compliance with the laws establishi…
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