EFCC Clarifies No N50 Billion Given To NELFUND

EFCC Clarifies No N50 Billion Given To NELFUND

The Economic and Financial Crimes Commission (EFCC) has rejected media reports claiming that it donated N50 billion from its recovery account to the Nigerian Education Loan Fund (NELFUND). According to a statement on the EFCC’s website, NELFUND’s Managing Director, Mr. Akintunde Sawyerr, had expressed gratitude to the EFCC for the financial support…… CONTINUE READING

Sawyerr, who oversees NELFUND, an initiative under President Bola Tinubu’s administration aimed at funding education for underprivileged students, highlighted the challenges facing youth development in the educational sector. In his statement, Sawyerr thanked the EFCC for the supposed N50 billion contribution, noting it was sourced from crime proceeds recovered by the Commission.

However, some critics have condemned the EFCC for allegedly donating recovered funds without first returning them to the federal government, as required by the Nigerian Constitution.

In response, Dele Oyewale, EFCC’s Head of Media & Publicity, clarified that the funds were not a direct donation from the EFCC but were instead part of the recovered crime proceeds that had been remitted to the government. He explained that it was President Tinubu’s decision to allocate these funds to the student loan scheme as part of his social intervention efforts. Oyewale emphasized that it is not the EFCC’s role to direct how the government uses the recovered funds but assured that the Commission would oversee their use to ensure transparency and the achievement of the scheme’s goals.

For the latest updates and juicy gossip, dive into the Bushradiogist platform by clicking this link: Bushradio. For advert placement only, shoot a WhatsApp message to 0807 580 6790.