By Biola Lawal
Abuja (Flowerbudnews): The Economic and Financial Crimes Commission, EFCC, has clarified that the N50 billion Naira moved to the covers of Nigerian Education Loan Fund was part of the recovered proceeds of crime remitted to the Federal Government and not a donation.
In a statement on Wednesday in Abuja, EFCC Spokesman, Dele Oyewale, wrote:
The Economic and Financial Crimes Commission, EFCC to clarify the reports in a section of the media today, August 14, 2024, purporting that the Commission donated N50billion to the Nigerian Education Loan Fund, NELFUND from its recovery account.
The said fund was not a donation by the Commission 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.
This was disclosed in a statement by Dele Oyewale, the EFCC Spokesman on Wednesday in Abuja,a copy of which was made a available to Flowerbudnews.
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. (Flowerbudnews)
