NELFUND Receives Significant Boost of N50 Billion from EFCC to Enhance Student Loan Scheme

The Nigerian Education Loan Fund (NELFUND) has confirmed the receipt of a substantial sum of N50 billion from the Economic and Financial Crimes Commission (EFCC), a development that is expected to significantly enhance the student loan program.

This notable infusion of funds follows the directive of President Bola Tinubu on August 4, 2024, to transfer the aforementioned sum to NELFUND, thereby demonstrating the administration’s unwavering commitment to the education sector.

The loan fund has expressed its profound gratitude to President Tinubu for his unrelenting dedication to the education sector and his continued efforts to support the most vulnerable segments of the population.

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The implementation of the student loan scheme is a flagship project of the Tinubu administration, aimed at providing financial assistance to indigent or low-income Nigerians to pay fees in Nigerian tertiary institutions, thereby promoting access to higher education and socio-economic development in Nigeria.

The NELFUND has also extended its appreciation to the management of the EFCC, led by Chairman Olanipekun Olukoyede, for their pivotal role in facilitating the transfer of funds. 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.