The Nigerian Education Loan Fund (NELFUND) has acknowledged the receipt of N50 billion from the Economic and Financial Crimes Commission (EFCC).

In a statement on Friday, its spokesperson, Oseyemi Oluwatuyi, said the release followed the directive of President Bola Tinubu on August 4, directing the EFCC to transfer the funds to NELFUND to further boost the student loan programme.

She said this significant injection of funds represents a major milestone in the administration’s commitment to bolstering access to education by providing financial support to students across Nigeria.

“By deciding to allocate these funds to the student loan scheme, Mr Tinubu has once again demonstrated his visionary leadership and commitment to fostering a brighter future for Nigerian students.

“NELFUND also wishes to acknowledge and thank the EFCC under the leadership of its executive chairman, Ola Olukayode, for their swift action ensuring the release of the funds,” she said.

According to her, their diligent work has ensured that these resources have been promptly made available to benefit the education of the nation’s youth.

She added that the decision to direct these funds into NELFUND’s student loan scheme underscored the administration’s broader social intervention policy to uplift the most populous segment of Nigerian society.

“This infusion of funds will significantly boost NELFUND’s ability to provide much-needed financial support to students, enabling them to pursue their academic aspirations without financial hindrance,” she said.

Ms Oluwatuyi assured us of NELFUND’s commitment to utilising the funds equitably, responsibly, and efficiently while ensuring that they directly benefit those who need them the most.

She said that NELFUND would continue to drive the mission of expanding tertiary education access for all Nigerian youths.

Ms Oluwatuyi said that through the fund, there would be an increase in the employability of well-educated graduates in both the academic and vocational sectors.

(NAN)