EFCC, Reps committee partner to safeguard integrity of NELFUND
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has urged the House of Representatives to partner with the Commission in making the Nigerian Education Loan Fund (NELFund) a functional and credible scheme.
Olukoyede made the call on Tuesday, July 29, 2025, when he received members of the House Committee on Students Loans, Scholarships, and Higher Education Financing, led by Chairman Hon. Ifeoluwa Ehindero, on a working visit to the Commission.
He said the EFCC had already supported the scheme with a N50 billion seed fund, describing it as a significant milestone. “We must ensure this scheme works. We have to give Nigerians a sense of good governance,” he said. “We pass good laws, but implementation is where we often fall short.”
He also emphasized the importance of proactive oversight, stating that one of his first steps in office was creating a Fraud Risk Assessment and Control Department to prevent corruption. He urged the National Assembly to intensify its scrutiny of NELFund to deter potential abuse.
Olukoyede pledged to establish a NELFund Desk within the EFCC to facilitate smooth information sharing and prompt responses to emerging issues around the fund’s operations.
In his remarks, Hon. Ehindero praised Olukoyede’s leadership, declaring the Committee’s readiness to work with the EFCC in ensuring access to higher education for all deserving students, without financial obstacles.
He said the lawmakers were aware of public expectations regarding oversight of NELFund and would collaborate with the EFCC in auditing disbursements, sharing intelligence, and building internal anti-corruption systems within the agency.
Ehindero commended the EFCC’s N50 billion contribution to the Fund, saying it reflects the Commission’s recognition of education as a critical tool in the fight against poverty, ignorance, and crime.
