The EFCC has transferred ₦50bn to NELFUND as directed by President Bola Tinubu. NELFUND's management has verified the receipt of the funds from the EFCC, which were recovered from criminal activities.
The Nigerian Education Loan Fund (NELFUND) has acknowledged the receipt of ₦50 billion from the Economic and Financial Crimes Commission (EFCC) as directed by President Bola Tinubu.
This substantial injection of funds marks a significant step in enhancing access to education through student loan programs. NELFUND expresses gratitude to President Tinubu for his steadfast commitment to the education sector and support for vulnerable populations.
By opting to allocate these funds to the student loan program, President Tinubu has once again showcased his visionary leadership and dedication to advancing the future of Nigerian students and the country's socioeconomic progress. NELFUND also extends gratitude to the EFCC, particularly under the leadership of its Executive Chairman, Ola Olukayode, for their prompt actions in facilitating the release of the funds.
The diligent efforts of the EFCC have ensured the timely availability of these resources to benefit the education of our nation's youth. President Tinubu's decision to direct these funds towards NELFUND's student loan program highlights the administration's broader social intervention strategy aimed at uplifting Nigeria's youth, a vital yet disadvantaged segment of society.
This injection of funds will significantly enhance NELFUND's capacity to offer crucial financial assistance to students, enabling them to pursue their academic goals without financial constraints. NELFUND is committed to utilizing these funds equitably, responsibly, and efficiently to ensure they directly support those in need. Additionally, NELFUND has initiated a partnership with the EFCC to oversee the disbursement process.
With the backing of the government and the EFCC, NELFUND is poised to advance its goal of broadening access to higher education for all ambitious Nigerian youth and enhancing the employability of well-educated graduates in both academic and vocational fields.
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