By Kingston Magare 19.8.2026
The Nigerian Education Loan Fund will receive more funding following President Bola Tinubu’s directive to the Economic and Financial Crimes Commission to diverted monies recovered from cases in its portfolio.
Minister of education Dr Tunji Alausa, made this known while speaking to journalists at the end of Wednesday’s Federal Executive Council meeting. He added that unclaimed dividends and the Dormant Account Trust Funds will also be channeled towards the NELFUND.
“The president, in his benevolence, has now directed that all funds recovered by the Economic and Financial Crimes Commission be diverted to NELFUND to continue to support its funding.
“This was also approved by FEC: that all unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund should also be directed to NELFUND, so that NELFUND will be financially buoyant to meet its growing obligations today.
“Note, and the President was very clear, not ceased properties, or recovered looted funds, but liquid funds, from the EFCC will now be transferred to NELFund.“
Nigeria University Students in a lecture hall.