Tinubu orders diversion of recovered looted funds to NELFUND
President Bola Tinubu has ordered that recovered looted funds by the Economic and Financial Crimes Commission (EFCC) be diverted to the Nigerian Education Loan Fund (NELFUND).
The minister of education, Dr Tunji Alausa, said this after the Federal Executive Council (FEC) meeting held on Wednesday.
He noted that during the meeting the attorney-general of the federation was mandated to liaise with the education ministry for the legal framework.
Mr Alausa commended the president for his magnanimity and dedication to education, adding that monies still under litigation wouldn’t be utilised until the issues were legally settled.
He added, “The president, in his benevolence, has now directed that all funds recovered by the Economic and Financial Crimes Commission be diverted to NELFUND.”
“This was also approved by FEC: that all unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund should also be channelled to NELFUND, so that NELFUND will be financially buoyant to meet its growing obligations.”
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Sport
Former Arsenal star Patrick Vieira appointed as Senegal’s new head coach
Vieira succeeds former manager Pape Thiaw.
States
Gombe govt approves N260 million for relocation of grain market
According to him, moving the grain market to Dukku Road is expected to reduce traffic congestion.
Rights
NAPTIP seeks media, government agencies’ collaboration to end SGBV in Nigeria
Ms Bello said SGBV remained one of the most common human rights violations in Nigeria.
Sport
FULL LIST : FIFA names Ngock, Chawinga, Bihina, Dafeaur among top 10 stars at 2026 WAFCON
Ngock was named Player of the Tournament following Cameroon’s historic victory against Malawi.
States
Ebonyi: PDP governorship candidate urges residents to embrace peace ahead of 2027 elections
The governorship candidate stressed that political differences should not be allowed to degenerate into violence.
Africa
Sudan, South Sudan revive security talks after defence minister’s visit
The minister said continued cooperation between Sudan and South Sudan was important to maintaining stability.
