EFCC Recoveries Poured into NELFUND

EFCC Recoveries Poured into NELFUND

By CAVIMAGES Media 

***





​The Federal Government has shifted its financial strategy to bolster higher education by directing all liquid funds recovered by the Economic and Financial Crimes Commission (EFCC) directly into the Nigerian Education Loan Fund (NELFUND).

​The Presidential Directive: Announced by the Minister of Education, Dr. Maruf Tunji Alausa, following a Federal Executive Council meeting, President Bola Tinubu also secured approval to channel unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund into the loan scheme.

SCOPE AND SAFEGUARDS: Minister Alausa clarified that the directive applies strictly to liquid, unencumbered cash recoveries rather than seized properties or disputed assets. The Attorney-General of the Federation and Minister of Justice was tasked with reviewing legal frameworks to execute the transfers smoothly.

IMPACT ON STUDENTS: This injection is designed to sustain NELFUND's rapidly expanding obligations as student demand grows. Reports indicate the fund has already disbursed massive amounts in institutional fees and stipends to millions of students across public tertiary institutions nationwide.

Comments

Post a Comment

Popular posts from this blog

Inside the High Court Injunction That Halted Ezuruezu Mbaise & Vindicated Ndi Ezeji

Image
Inside the High Court Injunction That Halted Ezuruezu Mbaise & Vindicated Ndi Ezeji By CAVIMAGES Media  *** ​The drums of the New Yam Festival are meant to beat to a rhythm of thanksgiving, unity, and sacred covenant. But in Mbaise, Imo State, the rhythm has fractured into the sharp, uncompromising gavel of the judiciary. ​In a landmark legal showdown that will echo through the annals of Igbo cultural history, a High Court of Imo State sitting at Aboh Mbaise dealt a definitive blow to the leadership of Ezuruezu Mbaise. On July 21, 2026, the court slammed the brakes on the socio-cultural organization's plans for the 2026 Iri-Ji Mbaise, issuing an interim prohibitive injunction restraining them, their committees, and agents from organizing the event or collecting a single kobo from the public. ​To understand the weight of this ruling, one must peel back the layers of administrative overreach, financial extortion, and a silent ideological war over who holds the keys to Mbaise'...
Read more

Yoruba Political Agenda Imo State pays courtesy visit to APC State Working Committee

Image
Yoruba Political Agenda Imo State pays courtesy visit to APC State Working Committee By: Ebere Osuka The Yoruba Political Agenda, Imo State with the motto " Strenghtening the Bonds Of Party Loyalty and Inclusive Leadership" has paid a courtesy call to APC State Working Committee at the state secretariat. Speaking, the Director General Yoruba Political Agenda  Dr Ezekiel Ajayi stated, that they are privileged to pay a courtesy visit to the secretariat and thanked them for the warm reception adding, that the essence of the visit is to revalidate  their total loyalty to the government of APC in Imo  state and Nigeria at large and appreciated members of YPA for deeming it fit to pilot the affairs of the forum  The Director General commended, the state governor Senator Hope Uzodinma for his good work in the state expressing joy, that some of the yoruba community are beneficiaries of the largesse of the state government as well as the appointment of their indigenes in vari...
Read more

Clashes Over Security & Stool: Umuihuocha Eze-Elect Blows Hot Over "Parallel" Vigilante Move

Image
Clashes Over Security & Stool: Umuihuocha Eze-Elect Blows Hot Over "Parallel" Vigilante Move By Cecilia Anyanwu  *** AHIAZU MBAISE, IMO STATE — A major leadership and security row is brewing in Umuihuocha Obohia Autonomous Community, following a scathing public clarification issued by the Community’s Eze-Elect, Nze Greatman Eze-Ndi-Eze Ugwuadi. The royal father-to-be has raised the alarm over what he describes as an attempt by certain factions to create a "parallel security structure" capable of plunging the Community into chaos and division. The controversy stems from a letter dated June 2, 2026, titled "Need to Harmonize the Umuihuocha Security Vigilante Network for Effective Operations and Supervision," which was circulated to select stakeholders by members of the Umuihuocha Security Committee. Breaking his silence on the matter, Nze Ugwuadi expressed deep concern that a letter preaching "harmonization" could deliberately omit his official...
Read more