EFCC clarifies alleged N50bn donation to NELFUND
The Economic and Financial Crimes Commission (EFCC) has refuted media reports suggesting that it donated N50 billion to the Nigerian Education Loan Fund (NELFUND).
In a statement released on Wednesday and signed by Dele Oyewale, the Head of Media and Publicity, the Commission clarified that the funds in question were not a donation but rather part of recovered proceeds of crime that had been remitted to the government.
According to the EFCC, President Bola Ahmed Tinubu decided to allocate the recovered funds to the student loan scheme as part of his administration’s social intervention policies aimed at supporting the most vulnerable segments of the population.
The Commission emphasized that it does not have the authority to determine how recovered funds are used by the government, but acknowledged that the student loan scheme is a positive initiative with the potential to reduce youth involvement in criminal activities.
During a recent courtesy visit by Mr. Akintunde Sawyerr, the Managing Director and Chief Executive Officer of NELFUND, to the EFCC, the Commission’s Chairman, Ola Olukoyde, stated that the EFCC would closely monitor the utilization of the funds to ensure accountability and the successful implementation of the scheme.
