Abdulazeez Abdulwahab
THE Economic and Financial Crimes Commission (EFCC) has clarified that the sum of Fifty Billion Naira (N50,000,000,000.00) it gave to the Nigerian Education Loan Fund (NELFUND) from its recovery account was not a donation.
According to the Commission, the said fund was not a donation by the Commission but part of the recovered proceeds of crime remitted to the government.
“President Bola Ahmed Tinubu, in furtherance of his social intervention policy for the most vulnerable segments of the population, decided, in his wisdom, to plough the money into funding the critically acclaimed student loan scheme.
“It is not the place of the Commission to determine where the government commits recovered proceeds of crime. However, the student loan scheme is a salutary innovation which has the potential to reduce youth involvement in criminality.
“As the Commission’s Chairman, Ola Olukoyde disclosed during a courtesy visit to the Commission by the NELFUND’s Managing Director and Chief Executive Officer, Mr. Akintunde Sawyerr on 13 August 2024, that the EFCC will monitor the use of the funds to ensure accountability and the realisation of the objectives of the Scheme”, the anti-graft agency said in a statement.
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