Last Updated on August 17, 2024 by Timileyin Awogbade
The Economic and Financial Crimes Commission has donated N50 billion to help the Nigerian Education Loan Fund.
This was revealed by the anti-crime agency on Tuesday, August 13, 2024, when the Fund’s Managing Director and CEO, Mr. Akintunde Sawyerr, led his management team on a courtesy visit to the EFCC headquarters in Abuja.
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Sawyerr stated that the Fund, an initiative of President Bola Tinubu’s government, was established to give support for the education of low-income students.
According to a statement acquired from the EFCC’s website, “He (Sawyerr) appreciated the EFCC for the N50 billion injected into NELFUND from proceeds of crime recovered by the commission.”
“We are aware that cash from crime proceeds have been given to NELFUND. We’re here to convey our appreciation for the gesture. We also want the EFCC to monitor what we are doing,” Sawyerr stated.
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He also said that a lack of educational support from parents contributed to their children’s involvement in financial crimes.
He stated, “One of the primary incentives for cybercrime is the inability of parents to fund their children’s education.” NELFUND is a policy problem dealing with crime. President Tinubu should be applauded for establishing the Fund.
The EFCC chief told the NELFUND management team to be transparent in their dealings, which he said would help in the battle against corruption.
Let your hands be clean. I repeat, keep your hands clean. The work you’ve been assigned will assist the EFCC in its fight against corruption. Let your systems and processes be transparent,” he advised.
Olukoyede directed the NELFUND CEO to provide reports to the EFCC on the deployment of its funds, emphasizing his commitment to ensuring that the N50 billion donation is not “re-looted.”
He stated, “I will work to guarantee that funds pooled to help NELFUND are not re-looted. We want your management to submit your disbursements to the EFCC.
Timileyin Awogbade
Timileyin Awogbade is a journalist, seasoned copywriter, expert editor, and experienced content creator at Dailylight Channel with over 5 years of experience in writing, content strategy, and SEO.