₦airaland Forum

President Bola Tinubu has directed that funds recovered by the Economic and Financial Crimes Commission (EFCC), as well as unclaimed dividends and money in dormant bank accounts, be channelled to the Nigerian Education Loan Fund (NELFUND).

The directive is aimed at strengthening the financing of the Federal Government’s student loan scheme and ensuring that more Nigerian students can access funding for tertiary education.

The move could provide NELFUND with additional resources to expand its loan programme as demand for student financing continues to grow.

It also signals the administration’s intention to deploy recovered and otherwise idle public funds towards education and human capital development.

The directive comes as NELFUND continues to disburse billions of naira in institutional fees and student upkeep allowances to beneficiaries across public tertiary institutions.

NELFUND Managing Director, Mr Jimtunde Sawyer, recently said the fund had disbursed more than N322 billion, including about N192 billion in institutional fees and N129.8 billion in upkeep allowances.

The development is expected to strengthen the sustainability of the student loan scheme, which operates as an interest-free revolving fund, with repayments linked to beneficiaries’ employment and income.

Under the scheme, beneficiaries are expected to repay 10 per cent of their income once they secure employment, while repayment is suspended when they are unemployed.

The President’s directive therefore provides a potential additional funding stream for the scheme while supporting the government’s broader objective of expanding access to higher education.

omoredia:
Big thief. A crook who doesn't know how to earn an honest income

fergie001:
https://www.tvcnews.tv/breaking-tinubu-directs-efcc-recoveries-dormant-funds-to-nelfund/

Streetinvestor2:
Is that the avenue they want to use and loot it and claim the gave it to Nigeria students. Nigeria students have no reason going to sch on loan when we have countries doing free education and don't have half of our resources

Thiefobi1:
U meant the fmr Anambra govt whose driver was caught with 250m in Lagos.

chudez0147:
Who is Nelfund ?? We understand unu

Thiefobi1:
The loot was seized from Peter obi friend malami.

Mattswaggz:
Only for it to be relooted again abi?.....what have become of all those abacha loots that have been rolling in?. .

Streetinvestor2:
The baron that trump is coming. Tell him to send efcc to prosecut obi if he has evidence
His own evidence will soon be announced by trump government
He is going to jail in trump prison

Thiefobi1:
U meant the fmr Anambra govt whose driver was caught with 250m in Lagos.

Thiefobi1:
Obi is a fraud. A thief and gbajue.

Ameboperoo:
I think this is a good idea. Before they will be relooted again. At least, it will benefit the less privileged.


FTC finally.
It's not easy, please celebrate with me with likes.

😆

Streetinvestor2:
But he is not drug baron and criminality like the usa is saying now.The files will be released soon.When will you people release obi files so efcc can jail him..lol

Taaaarr! Yousid obi is not what Pls go to Anambra go and find out the circustances that led to his Nna kpai.

Streetinvestor2:
But he is not drug baron and criminality like the usa is saying now.The files will be released soon.When will you people release obi files so efcc can jail him..lol
I learnt u won't get your 30k for this month because of the defeat in osun after spending over 100 billion and 30 apc governors and data boys work on NL

Thiefobi1:
Ur messiah father was also a baron in onitsha in those days.