President Bola Ahmed Tinubu has directed that legally recovered liquid funds from the Economic and Financial Crimes Commission (EFCC) be channelled to the Nigerian Education Loan Fund (NELFUND) as part of efforts to strengthen the student loan programme.
The move is expected to provide additional funding for NELFUND and support the long-term sustainability of the scheme, which was established to help Nigerian students access higher education financing.
The directive covers legally recovered and liquid funds that are available for transfer and does not include assets or funds that remain under litigation.
The President is also exploring other legally available funding sources, including the Unclaimed Dividends Trust Fund and the Dormant Accounts Trust Fund, to support the education financing initiative.
NELFUND was created to remove financial barriers that prevent students from accessing tertiary education.
As demand for student loans continues to grow, the Federal Government is seeking additional funding mechanisms to ensure the programme remains financially sustainable.
According to available figures, more than ₦322 billion has been disbursed through over 1.6 million student loan applications as of August 2026.
NELFUND Managing Director and Chief Executive Officer, Akintunde Sawyerr, has previously emphasised the importance of transparency, accountability and responsible management of resources in the administration of the scheme.
The student loan programme is one of the Federal Government’s major interventions in education financing and is aimed at ensuring that financial constraints do not prevent eligible students from pursuing higher education.
The latest funding strategy is expected to strengthen NELFUND’s financial base and support its capacity to continue providing loans to students across the country.
The Federal Government maintains that expanding access to education remains a key part of its efforts to develop human capital and support national development.
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