The Nigerian Education Loan Fund, NELFUND, has commended President Bola Tinubu for directing that eligible liquid funds recovered by the Economic and Financial Crimes Commission, EFCC, be channelled to the Fund to support its growing student loan obligations.
The Fund also welcomed the Federal Executive Council’s approval for unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund to be directed to NELFUND.
In a statement signed by the Director, Strategic Communications, Mrs Oseyemi Oluwatuyi, on Wednesday, NELFUND said the development came as the student loan scheme continued to expand, with the Fund having disbursed more than N322 billion through over 1.6 million student loan applications as of August 2026.
The Chairman of the NELFUND Board, Mr Jim Ovia, also expressed appreciation to President Tinubu for his continued support and confidence in the Fund, saying the decision further reinforced the administration’s commitment to making access to higher education more inclusive and sustainable.
Commenting on the development, NELFUND Managing Director and Chief Executive Officer, Mr Akintunde Sawyerr, thanked the President for his continued commitment to removing financial barriers to higher education.
“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.
“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.
“On behalf of the Executive Management and 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,” Sawyerr said.
NELFUND said the decision would further strengthen the Federal Government’s commitment to sustainable education financing and support the Fund’s efforts to reach more eligible Nigerian students.
