BREAKING: Tinubu redirects EFCC-recovered funds, unclaimed dividends to student loan scheme
President Tinubu has directed EFCC-recovered funds and unclaimed dividends be channeled to the Nigerian Education Loan Fund (NELFUND) to sustain the studen Read More: https://punchng.com/breaking-tinubu-redirects-efcc-recovered-funds-unclaimed-dividends-to-student-loan-scheme/
President Bola Tinubu has instructed the Economic and Financial Crimes Commission (EFCC) to redirect its recovered funds to the Nigerian Education Loan Fund (NELFUND). This decision was made during a meeting of the Federal Executive Council (FEC), according to Dr Tunji Alausa, the Minister of Education. Alausa revealed that NELFUND's growing funding obligations would be met through this reallocation.
He also announced that unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund would also be directed to NELFUND to bolster its financial stability. The President's decision stems from a campaign pledge to ensure educational opportunities for Nigerian students. The minister clarified that the funds would consist of unencumbered, legally uncontested monies.
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