The Nigerian Education Loan Fund (NELFund), has acknowledged the receipt of an additional N50 billion from the Economic and Financial Crimes Commission (EFCC).
Director, Corporate Communications
of NELFund, Mrs Oseyemi Oluwatuyi announced this in a statement issued on Friday, August 23, 2024.
Oluwatuyi noted that the release follows the directive of President Bola Tinubu in his speech on 4th August, 2024, directing the EFCC to transfer the funds to NELFUND to further boost the student loan program.
This significant injection of funds, she said, represents a major milestone in the Administration’s commitment to bolstering access to education by providing financial support to students across the country.
She explained that, by deciding to allocate these funds to the student loan scheme, President Tinubu had once again demonstrated his visionary leadership and commitment to fostering a brighter future for Nigerian students and to the socioeconomic advancement of Nigeria.
The statement read in part:
“NELFUND also wishes to acknowledge and thank the Economic and Financial Crimes Commission (EFCC) under the leadership of its Executive Chairman, Ola Olukayode for their swift action ensuring the release of the funds.
“Their diligent work has ensured that these resources has been promptly made available to benefit the education of our nation’s youth.
“President Bola Ahmed 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 will significantly boost NELFUND’s ability to provide much-needed financial support to students, enabling them to pursue their academic aspirations without financial hindrance.
“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”.
