PUNCH
The Economic and Financial Crimes Commission has donated the sum of N50bn to support the Nigerian Education Loan Fund.
This was disclosed by the anti-graft agency on Tuesday, August 13, 2024, when the Fund’s Managing Director and Chief Executive Officer, Mr. Akintunde Sawyerr, led its management team on a courtesy visit to the EFCC headquarters in Abuja.
Sawyerr noted that the Fund, an initiative of the President Bola Tinubu-led administration, was designed to provide funding for the education of indigent students.
The statement obtained on the EFCC’s website partly read, “He (Sawyerr) appreciated the EFCC for the N50bn injected into NELFUND from the proceeds of crime recovered by the commission.
“We are aware of the funds from the proceeds of crime extended to NELFUND. We are here to express our gratitude for the gesture. We also want the EFCC to exercise oversight on what we are doing,” Sawyerr said.
He added that the “youths constitute the most populous, restive but neglected segment of our population. President Tinubu identified this as a major problem and put in place a major solution to address the issue.”
In his remarks, the EFCC Chairman, Ola Olukoyede, commended President Tinubu for the initiative, which he described as a “policy issue against crimes.”
He also stated that the lack of parents’ educational support was a contributing factor to children’s involvement in financial crimes.
He said, “One of the main incentives for cybercrimes is the inability of parents to fund the education of their children. NELFUND is a policy issue against crimes. President Tinubu should be commended for initiating the Fund.”
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