Nigerian Education Fund Hails Tinubu for Directing Recovered Funds to Student Loans

The Nigerian Education Loan Fund (NELFUND) has lauded President Bola Tinubu's administration for its commitment to sustainable student financing. The fund expressed gratitude for the directive to channel recovered funds from the Economic and Financial Crimes Commission (EFCC) towards supporting its growing student loan obligations.

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NELFUND deeply appreciates His Excellency, President Bola Ahmed Tinubu, for this significant intervention and for his unwavering commitment to ensuring that no Nigerian student is denied access to higher education because of financial constraints.

In addition to the EFCC funds, the Federal Executive Council's approval to direct unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund to NELFUND further strengthens the scheme. This move comes as the student loan program continues its expansion.

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This decision demonstrates Mr. President’s strong belief in the transformative power of education and provides further confidence in our collective efforts to build a sustainable student financing system for Nigerian students.

As of August 2026, NELFUND has reportedly disbursed over 322 billion naira, assisting more than 1.6 million student loan applicants. The fund's leadership emphasized that these decisions reinforce the administration's dedication to making higher education more accessible and sustainable for Nigerian students, assuring responsible and transparent management of entrusted resources.

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On behalf of the Executive Management, staff of NELFUND, and millions of Nigerian students, we thank Mr. President for this confidence and assure him that we will continue to deploy every resource entrusted to the Fund responsibly, transparently and in the best interest of Nigerian students.