Monday, February 10, 2025

advertise your product or service on freshreporters
HomeNaija NewsAnti-graft reportedly donates N50 billion to support student loan scheme

Anti-graft reportedly donates N50 billion to support student loan scheme

The Economic and Financial Crimes Commission, EFCC has released the sum of N50 billion to the Nigerian Education Loan Fund (NELFUND) from recovered assets to support the student loan scheme.

The anti-graft agency announced this in a press statement on Tuesday, following a visit by NELFUND’s head, Akinwunmi Sawyerr, to the EFCC headquarters.

According to the statement, the chairman of EFCC, Ola Olukoyede, lauded the student loan programme, describing it as a policy issue to tackle corruption.

ALSO READ:  JUST IN: NYSC suspends CDS, monthly clearance over planned nationwide protest

Olukoyede also mentioned that the inability of many parents to fund the education of their children had always been a predisposing factor of corruption, making students vulnerable to all forms of economic and financial crimes.

He said,

“One of the main incentives to 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”, he said.

ALSO READ:  OPay Announces Closure of Crypto Trading Accounts Due to CBN Directive

On his part, Sawyerr said NELFUND was a programme designed to provide funding for the education of indigent students. He also thanked EFCC for the N50 billion 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”, he said.

ALSO READ:  B@d economy: Abuja, Lagos listed as cheapest cities for expatriates in Africa

The revised Student Loan Act of 2024 was created to make education more accessible to all Nigerian students, regardless of their financial situation.

The Act aims to remove the financial barriers that often prevent students from pursuing higher education. [CONTINUE READING HERE]>>>>



DISCLAIMER
For publication of your news content, articles, videos or any other news worthy materials, please send a mail to thefreshreporters@gmail.com

Join Other Great Readers, FOLLOW us On WHATSAPP>> https://chat.whatsapp.com/DN0y4bGIbVI4II6aNcPssb

Join Other Great Readers On TELEGRAM>> https://t.me/freshreporters

For Advert and other info, Click this link to send a Message to the Admin https://freshreporters.com/advertise/

Join thousands of readers to receive daily Latest News: