President Bola Ahmed Tinubu has directed that liquid funds recovered by the Economic and Financial Crimes Commission (EFCC) be channelled to the Nigerian Education Loan Fund (NELFUND) to strengthen the financing of student loans.
The directive was disclosed on Wednesday, August 19, 2026, by the Minister of Education, Dr. Tunji Alausa, while briefing State House correspondents after the Federal Executive Council (FEC) meeting in Abuja.
According to the Minister, the move is aimed at ensuring that NELFUND remains financially sustainable as more Nigerian students access government-backed education loans.
What will be transferred?
The directive covers liquid funds recovered by the EFCC that are legally cleared and no longer subject to litigation. It does not mean that seized properties or assets currently tied up in legal proceedings will automatically be transferred to NELFUND.
The FEC also approved moves to channel unclaimed dividends from the Capital Market Trust Fund and funds in the Dormant Account Trust Fund to NELFUND, subject to the necessary legal processes.
What this means for Nigerian students
The additional funding is expected to strengthen NELFUND's ability to meet its growing obligations and support more students through the federal government's student-loan programme.
The Minister said the President's position was clear: education must remain a priority, particularly as demand for student financing continues to increase.
The development could mark another significant step toward creating a more sustainable funding base for Nigeria's student-loan scheme.