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…
President Bola Tinubu has directed that funds seized by the Economic and Financial Crimes Commission (EFCC) be redirected to the Nigerian Education Loan Fund (NELFUND). This decision was revealed by the Minister of Education, Dr. Tunji Alausa, following a meeting of the Federal Executive Council (FEC) in Abuja. Dr. Alausa also announced that the FEC approved the allocation of unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund to NELFUND.
The objective is to bolster NELFUND's financial stability in order to fulfill its increasing commitments to Nigerian students.
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