President Tinubu Redirects EFCC-recovered Funds, Unclaimed Dividends to Students Loan Scheme

President Tinubu directs that all unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund be channelled to NELFUND (Student loan scheme) to make the fund buoyant enough to meet its expanding obligations to Nigerian students.

Tinubu also directs that recovered funds from the EFCC be diverted to NELFUND to sustain its growing funding obligations.

Briefing the press on the directive after today’s Federal Executive Council (FEC) meeting, Tunji Alausa, the Minister of Education, noted that the funds from the EFCC do not include seized properties or recovered looted funds, but rather liquid funds from the commission that will be transferred to NELFUND.

He added that the funds will include unencumbered monies that are not under legal contention.

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 students loan