EFCC Clarifies N50 Billion ‘Donation’ To NELFUND

The Economic and Financial Crimes Commission (EFCC) has denied reports that it donated N50 billion to the Nigerian Education Loan Fund (NELFUND) from its recovery account. According to EFCC’s Head, Media & Publicity, Dele Oyewale, the fund was part of the recovered proceeds of crime remitted to the government.

Oyewale stated that President Bola Ahmed Tinubu decided to plough the money into funding the students’ loan scheme as part of his social intervention policy.

He emphasized that the EFCC’s role is to monitor the use of the funds to ensure accountability and the realization of the scheme’s objectives.

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The clarification comes after NELFUND’s Managing Director and Chief Executive Officer, Mr. Akintunde Sawyerr, thanked the EFCC for the funds, which sparked controversy over the Commission’s authority to donate recovered loots without first remitting them to the federal government.