The Nigerian Education Loan Fund (NELFUND) has confirmed the receipt of an additional N50 billion from the Economic and Financial Crimes Commission (EFCC), following a directive from President Bola Tinubu.
This funding is aimed at bolstering the student loan program to enhance access to education across Nigeria.
Oseyemi Oluwatuyi, Director of Corporate Communications at NELFUND, expressed the organization’s gratitude to President Tinubu for his commitment to education, highlighting this financial support as a key milestone in empowering students, particularly those from vulnerable communities.
She acknowledged the EFCC, under the leadership of Ola Olukayode, for promptly releasing the funds.
The fund’s Managing Director/CEO, Akintunde Sawyerr, emphasized that the infusion of funds will enable NELFUND to provide financial assistance to students, ensuring that financial constraints do not hinder their academic pursuits.
The organization has also partnered with the EFCC to oversee the disbursement process, aiming to ensure transparency and efficient utilization of the funds.
This initiative aligns with the administration’s broader social intervention policies focused on youth empowerment and socioeconomic development, positioning the student loan scheme as a crucial tool for expanding access to tertiary education and increasing employability in Nigeria.
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