| EFCC's ₦50 Billion To NELFUND Not Donation by blamingthedevil: 10:34am On Aug 15 |
The Economic and Financial Crimes Commission, EFCC, wishes to clarify the reports in a section of the media today, August 14, 2024, purporting that the Commission donated N50billion to the Nigerian Education Loan Fund, NELFUND from its recovery account.
The said fund was not a donation by the Commission but part of the recovered proceeds of crime remitted to the government. President Bola Ahmed Tinubu in furtherance of his social intervention policy for the most vulnerable segments of the population, decided in his wisdom, to plough the money into funding the critically acclaimed students loan scheme.
It is not the place of the Commission to determine where the government commits recovered proceeds of crime. But the student’s loan scheme is a salutary innovation which has the potential to reduce youth involvement in criminality.
As the Commission’s Chairman, Ola Olukoyde disclosed during a courtesy visit to the Commission by the NELFUND’s Managing Director and Chief Executive Officer, Mr. Akintunde Sawyerr on August, 13, 2026, the EFCC will monitor the use of the funds to ensure accountability and the realization of the objectives of the Scheme.
Dele Oyewale
Head, Media & Publicity
August 14, 2024 18 Likes 
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| Re: EFCC's ₦50 Billion To NELFUND Not Donation by atiku4President(m): 10:35am On Aug 15 |
The one FG has been wasting on Northerners under the guise of agric loan for years nko? Have they been repaying those so called agric loans? 8 Likes |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by blamingthedevil: 10:36am On Aug 15 |
President Bola Tinubu is set to be remembered as Nigeria's greatest President, not merely due to his past roles as a pro-democracy activist or his transformative governance of Lagos State, but because of his extraordinary accomplishments within a short time as the leader of the Federal Republic of Nigeria, the most populous black nation on earth.
From his first day in office, he exhibited bold leadership by removing the fuel subsidy that had burdened the nation for over five decades, subsequently deregulating the foreign exchange market, and partially removing the subsidy on electricity. He also introduced consumer credit systems, ensured local government autonomy through the Supreme Court, and provided free fertilizers to farmers, greatly boosting agricultural productivity. His administration has achieved a stable power supply, increased the minimum wage, and seen a significant 70% rise in government revenue.
Tinubu’s infrastructure initiatives are noteworthy. Over 330 roads have been completed, along with the Port Harcourt-Aba Railway, while the Sokoto-Badagry Highway and Lagos-Calabar Coastal Highway are well underway. In the Federal Capital Territory (FCT), infrastructure renewal projects, including the Third Mainland Bridge and the Abuja-Keffi-Makurdi Expressway, are either completed or progressing. The administration also introduced the "Renewed Hope" housing initiative in all 36 states and undertook significant healthcare infrastructure projects like the new hospital in Aba. Additionally, the ongoing Kaduna-Kano Railway and the completed Onitsha-Enugu Expressway are part of his extensive infrastructure agenda.
One of Tinubu's most impactful social initiatives is the Student Loan Scheme, which relieves parents and guardians of the financial burden of paying school fees while providing an annual upkeep allowance of ₦240,000, payable monthly to students. This revolutionary scheme is closing the gap between rich and poor, making education accessible to all. Moreover, the administration’s focus on empowering youth through the National Youth Fund and grants to nano businesses is fostering a new generation of entrepreneurs.
Under Tinubu's leadership, Nigeria is experiencing unprecedented growth and development, with ongoing infrastructure projects across the nation. His achievements are so significant and visible that even opposition voices are asking, "Why the haste?" In just one year, his administration's legacies are already etched in the sands of time, marking a new dawn for Nigeria.
God Bless Federal Republic of Nigeria
(C) Blamingthedevil 44 Likes 4 Shares |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by atiku4President(m): 10:37am On Aug 15 |
blamingthedevil:
President Bola Tinubu is set to be remembered as Nigeria's greatest President, not merely due to his past roles as a pro-democracy activist or his transformative governance of Lagos State, but because of his extraordinary accomplishments within a short time as the leader of the Federal Republic of Nigeria, the most populous black nation on earth.
From his first day in office, he exhibited bold leadership by removing the fuel subsidy that had burdened the nation for over five decades, subsequently deregulating the foreign exchange market, and partially removing the subsidy on electricity. He also introduced consumer credit systems, ensured local government autonomy through the Supreme Court, and provided free fertilizers to farmers, greatly boosting agricultural productivity. His administration has achieved a stable power supply, increased the minimum wage, and seen a significant 70% rise in government revenue.
Tinubu’s infrastructure initiatives are noteworthy. Over 330 roads have been completed, along with the Port Harcourt-Aba Railway, while the Sokoto-Badagry Highway and Lagos-Calabar Coastal Highway are well underway. In the Federal Capital Territory (FCT), infrastructure renewal projects, including the Third Mainland Bridge and the Abuja-Keffi-Makurdi Expressway, are either completed or progressing. The administration also introduced the "Renewed Hope" housing initiative in all 36 states and undertook significant healthcare infrastructure projects like the new hospital in Aba. Additionally, the ongoing Kaduna-Kano Railway and the completed Onitsha-Enugu Expressway are part of his extensive infrastructure agenda.
One of Tinubu's most impactful social initiatives is the Student Loan Scheme, which relieves parents and guardians of the financial burden of paying school fees while providing an annual upkeep allowance of ₦240,000, payable monthly to students. This revolutionary scheme is closing the gap between rich and poor, making education accessible to all. Moreover, the administration’s focus on empowering youth through the National Youth Fund and grants to nano businesses is fostering a new generation of entrepreneurs.
Under Tinubu's leadership, Nigeria is experiencing unprecedented growth and development, with ongoing infrastructure projects across the nation. His achievements are so significant and visible that even opposition voices are asking, "Why the haste?" In just one year, his administration's legacies are already etched in the sands of time, marking a new dawn for Nigeria.
God Bless Federal Republic of Nigeria
(C) Blamingthedevil Abeg, comot for road 34 Likes 2 Shares |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by RepoMan007: 10:37am On Aug 15 |
Announcing it as donation when more than N50B has been stolen from 2024 hajj alone? 1 Like |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by blamingthedevil: 10:37am On Aug 15 |
atiku4President:
The one FG has been wasting on Northerners under the guise of agric loan for years nko? Have they been repaying those so called agric loans? This one doesn't understand human capital development 42 Likes 2 Shares 
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| Re: EFCC's ₦50 Billion To NELFUND Not Donation by 2special(m): 11:16am On Aug 15 |
Either way, the money will still be looted. |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by ganilas007: 12:00pm On Aug 15 |
I don’t know why information cannot be properly communicated in the Nigeria or it the media that complicates informations.
Ps: Efcc should better send more funds to them coz they are only looting all the money they are recovering. 2 Likes |
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| Re: EFCC's ₦50 Billion To NELFUND Not Donation by Cmeo(m): 12:00pm On Aug 15 |
It should be a shareholder's fund so that EFCC as the shareholder can easily arrest and prosecute fund misappropriators |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by stano2(m): 12:01pm On Aug 15 |
Yeye people.
Just a means to loot the recovery fund 2 Likes |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by Manny21: 12:01pm On Aug 15 |
Before nko, how can you donate what does not belong to you. So EFCC has been keeping this money and unaccounted for. 2 Likes |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by gbaskiboy: 12:01pm On Aug 15 |
Billions of naira that God forsaken politicians launders is a common wealth that we donated. Let them go after them and recover the looted money from them first. 1 Like |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by YeyeGbami: 12:01pm On Aug 15 |
2 Likes |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by Built2last: 12:01pm On Aug 15 |
We have strong men in Nigeria. We don't have strong institutions. The president is lord.
He decides where any floating fund goes to. unaccounted afterwards.
Same reason any president who takes over retire half of our Generals to promote His men. We waste years of military experiences.
Have you ever heard any western leader took over and retired heads of security
We have strong men. 4 Likes 3 Shares |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by DeepSight(m): 12:02pm On Aug 15 |
blamingthedevil:
President Bola Tinubu is set to be remembered as Nigeria's greatest President, not merely due to his past roles as a pro-democracy activist or his transformative governance of Lagos State, but because of his extraordinary accomplishments within a short time as the leader of the Federal Republic of Nigeria, the most populous black nation on earth.
From his first day in office, he exhibited bold leadership by removing the fuel subsidy that had burdened the nation for over five decades, subsequently deregulating the foreign exchange market, and partially removing the subsidy on electricity. He also introduced consumer credit systems, ensured local government autonomy through the Supreme Court, and provided free fertilizers to farmers, greatly boosting agricultural productivity. His administration has achieved a stable power supply, increased the minimum wage, and seen a significant 70% rise in government revenue.
Tinubu’s infrastructure initiatives are noteworthy. Over 330 roads have been completed, along with the Port Harcourt-Aba Railway, while the Sokoto-Badagry Highway and Lagos-Calabar Coastal Highway are well underway. In the Federal Capital Territory (FCT), infrastructure renewal projects, including the Third Mainland Bridge and the Abuja-Keffi-Makurdi Expressway, are either completed or progressing. The administration also introduced the "Renewed Hope" housing initiative in all 36 states and undertook significant healthcare infrastructure projects like the new hospital in Aba. Additionally, the ongoing Kaduna-Kano Railway and the completed Onitsha-Enugu Expressway are part of his extensive infrastructure agenda.
One of Tinubu's most impactful social initiatives is the Student Loan Scheme, which relieves parents and guardians of the financial burden of paying school fees while providing an annual upkeep allowance of ₦240,000, payable monthly to students. This revolutionary scheme is closing the gap between rich and poor, making education accessible to all. Moreover, the administration’s focus on empowering youth through the National Youth Fund and grants to nano businesses is fostering a new generation of entrepreneurs.
Under Tinubu's leadership, Nigeria is experiencing unprecedented growth and development, with ongoing infrastructure projects across the nation. His achievements are so significant and visible that even opposition voices are asking, "Why the haste?" In just one year, his administration's legacies are already etched in the sands of time, marking a new dawn for Nigeria.
God Bless Federal Republic of Nigeria
(C) Blamingthedevil No wahala, since you so approve of his style and deeds I pray you and your family are visited by the effects his actions have had on the Nigerian people now and always. Say amen, amen. 4 Likes |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by OgiidiiHerbals(m): 12:03pm On Aug 15 |
They'll loot and reloot and be given fake figures as usual...
This country transparency and truthfulness has become a big deal.
So sad..
If you're dealing with any health issues consult me on a very effective curative herbs. |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by koladata(m): 12:03pm On Aug 15 |
how much did they pay you ... I'll rather remain hungry than to collect this kind of PR job blamingthedevil:
President Bola Tinubu is set to be remembered as Nigeria's greatest President, not merely due to his past roles as a pro-democracy activist or his transformative governance of Lagos State, but because of his extraordinary accomplishments within a short time as the leader of the Federal Republic of Nigeria, the most populous black nation on earth.
From his first day in office, he exhibited bold leadership by removing the fuel subsidy that had burdened the nation for over five decades, subsequently deregulating the foreign exchange market, and partially removing the subsidy on electricity. He also introduced consumer credit systems, ensured local government autonomy through the Supreme Court, and provided free fertilizers to farmers, greatly boosting agricultural productivity. His administration has achieved a stable power supply, increased the minimum wage, and seen a significant 70% rise in government revenue.
Tinubu’s infrastructure initiatives are noteworthy. Over 330 roads have been completed, along with the Port Harcourt-Aba Railway, while the Sokoto-Badagry Highway and Lagos-Calabar Coastal Highway are well underway. In the Federal Capital Territory (FCT), infrastructure renewal projects, including the Third Mainland Bridge and the Abuja-Keffi-Makurdi Expressway, are either completed or progressing. The administration also introduced the "Renewed Hope" housing initiative in all 36 states and undertook significant healthcare infrastructure projects like the new hospital in Aba. Additionally, the ongoing Kaduna-Kano Railway and the completed Onitsha-Enugu Expressway are part of his extensive infrastructure agenda.
One of Tinubu's most impactful social initiatives is the Student Loan Scheme, which relieves parents and guardians of the financial burden of paying school fees while providing an annual upkeep allowance of ₦240,000, payable monthly to students. This revolutionary scheme is closing the gap between rich and poor, making education accessible to all. Moreover, the administration’s focus on empowering youth through the National Youth Fund and grants to nano businesses is fostering a new generation of entrepreneurs.
Under Tinubu's leadership, Nigeria is experiencing unprecedented growth and development, with ongoing infrastructure projects across the nation. His achievements are so significant and visible that even opposition voices are asking, "Why the haste?" In just one year, his administration's legacies are already etched in the sands of time, marking a new dawn for Nigeria.
God Bless Federal Republic of Nigeria
(C) Blamingthedevil 2 Likes |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by Funkyswagzz(m): 12:04pm On Aug 15 |
Ok lending to pay back? |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by 9japride(m): 12:04pm On Aug 15 |
It then means that there might be other occasion in which funds have been released?
Meanwhile, some youths can't start up businesses due to no capital. 1 Like |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by Kaybaba5(m): 12:04pm On Aug 15 |
So EFCC is now father xmas cos I don't understand
All the money recovered suppose to be in government account, do EFCC have right to donate money recovered from thieves 2 Likes |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by Ibehchizzy: 12:06pm On Aug 15 |
I for fear 1 Like |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by allthingsgood: 12:07pm On Aug 15 |
atiku4President:
The one FG has been wasting on Northerners under the guise of agric loan for years nko? Have they been repaying those so called agric loans? una go just de type any rubbish you like....smh 3 Likes |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by dogo568: 12:07pm On Aug 15 |
blamingthedevil:
President Bola Tinubu is set to be remembered as Nigeria's greatest President, not merely due to his past roles as a pro-democracy activist or his transformative governance of Lagos State, but because of his extraordinary accomplishments within a short time as the leader of the Federal Republic of Nigeria, the most populous black nation on earth.
From his first day in office, he exhibited bold leadership by removing the fuel subsidy that had burdened the nation for over five decades, subsequently deregulating the foreign exchange market, and partially removing the subsidy on electricity. He also introduced consumer credit systems, ensured local government autonomy through the Supreme Court, and provided free fertilizers to farmers, greatly boosting agricultural productivity. His administration has achieved a stable power supply, increased the minimum wage, and seen a significant 70% rise in government revenue.
Tinubu’s infrastructure initiatives are noteworthy. Over 330 roads have been completed, along with the Port Harcourt-Aba Railway, while the Sokoto-Badagry Highway and Lagos-Calabar Coastal Highway are well underway. In the Federal Capital Territory (FCT), infrastructure renewal projects, including the Third Mainland Bridge and the Abuja-Keffi-Makurdi Expressway, are either completed or progressing. The administration also introduced the "Renewed Hope" housing initiative in all 36 states and undertook significant healthcare infrastructure projects like the new hospital in Aba. Additionally, the ongoing Kaduna-Kano Railway and the completed Onitsha-Enugu Expressway are part of his extensive infrastructure agenda.
One of Tinubu's most impactful social initiatives is the Student Loan Scheme, which relieves parents and guardians of the financial burden of paying school fees while providing an annual upkeep allowance of ₦240,000, payable monthly to students. This revolutionary scheme is closing the gap between rich and poor, making education accessible to all. Moreover, the administration’s focus on empowering youth through the National Youth Fund and grants to nano businesses is fostering a new generation of entrepreneurs.
Under Tinubu's leadership, Nigeria is experiencing unprecedented growth and development, with ongoing infrastructure projects across the nation. His achievements are so significant and visible that even opposition voices are asking, "Why the haste?" In just one year, his administration's legacies are already etched in the sands of time, marking a new dawn for Nigeria.
God Bless Federal Republic of Nigeria
(C) Blamingthedevil I agree. The man is doing well 3 Likes |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by allthingsgood: 12:07pm On Aug 15 |
Kaybaba5:
So EFCC is now father xmas cos I don't understand
All the money recovered suppose to be in government account, do EFCC have right to donate money recovered from thieves Try to read before commenting 4 Likes |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by allthingsgood: 12:08pm On Aug 15 |
9japride:
It then means that there might be other occasion in which funds have been released?
Meanwhile, some youths can't start up businesses due to no capital.
Its not capital thats the problem, but laziness and greed. Nigerian youth are lazy. Everynbody wants to be rich and drive big cars overnight There are plenty jobs in Nigeria that lazy youth looks down on. They rather sit at home and eat mummy's food. 3 Likes |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by Kobojunkieee: 12:08pm On Aug 15 |
blamingthedevil:
∆ It is not the place of the Commission to determine where the government commits recovered proceeds of crime. But the student’s loan scheme is a salutary innovation which has the potential to reduce youth involvement in criminality.
As the Commission’s Chairman, Ola Olukoyde disclosed during a courtesy visit to the Commission by the NELFUND’s Managing Director and Chief Executive Officer, Mr. Akintunde Sawyerr on August, 13, 2026, the EFCC will monitor the use of the funds to ensure accountability and the realization of the objectives of the Scheme. This is day light robbery! The government already budgeted amounts for all the work it is to dey on each year. Why is recovered loot being thrown in to the pot without the people's approval? No be so una go make an disappear before the people know what is happening? Where is it written that EFCC or even the President can convert recovered loot into extrabudgetary funds for crying out loud.  EFCC job na to monitor crime, not monitor how extrabudgetary funds are used abeg. Yahaya Bello, una still never locate finish. 🙄 2 Likes |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by deolu2000(m): 12:09pm On Aug 15 |
I have always maintained that, if they explain Nigeria to you and you understand, I will doubt your human nature. 1 Like |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by Holluwhakemmy(f): 12:09pm On Aug 15 |
It's Our Looted Money Not Donation 1 Like |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by unavailablecity: 12:09pm On Aug 15 |
Thanks for the explanation but those horrible children from the east sorry mud won't be pleased yet 3 Likes 1 Share |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by davit: 12:10pm On Aug 15 |
First time we will know what recovered funds are being used for. Guys let's commend this government. |
| Re: EFCC's ₦50 Billion To NELFUND Not Donation by tompat86(m): 12:10pm On Aug 15 |
blamingthedevil:
President Bola Tinubu is set to be remembered as Nigeria's greatest President, not merely due to his past roles as a pro-democracy activist or his transformative governance of Lagos State, but because of his extraordinary accomplishments within a short time as the leader of the Federal Republic of Nigeria, the most populous black nation on earth.
From his first day in office, he exhibited bold leadership by removing the fuel subsidy that had burdened the nation for over five decades, subsequently deregulating the foreign exchange market, and partially removing the subsidy on electricity. He also introduced consumer credit systems, ensured local government autonomy through the Supreme Court, and provided free fertilizers to farmers, greatly boosting agricultural productivity. His administration has achieved a stable power supply, increased the minimum wage, and seen a significant 70% rise in government revenue.
Tinubu’s infrastructure initiatives are noteworthy. Over 330 roads have been completed, along with the Port Harcourt-Aba Railway, while the Sokoto-Badagry Highway and Lagos-Calabar Coastal Highway are well underway. In the Federal Capital Territory (FCT), infrastructure renewal projects, including the Third Mainland Bridge and the Abuja-Keffi-Makurdi Expressway, are either completed or progressing. The administration also introduced the "Renewed Hope" housing initiative in all 36 states and undertook significant healthcare infrastructure projects like the new hospital in Aba. Additionally, the ongoing Kaduna-Kano Railway and the completed Onitsha-Enugu Expressway are part of his extensive infrastructure agenda.
One of Tinubu's most impactful social initiatives is the Student Loan Scheme, which relieves parents and guardians of the financial burden of paying school fees while providing an annual upkeep allowance of ₦240,000, payable monthly to students. This revolutionary scheme is closing the gap between rich and poor, making education accessible to all. Moreover, the administration’s focus on empowering youth through the National Youth Fund and grants to nano businesses is fostering a new generation of entrepreneurs.
Under Tinubu's leadership, Nigeria is experiencing unprecedented growth and development, with ongoing infrastructure projects across the nation. His achievements are so significant and visible that even opposition voices are asking, "Why the haste?" In just one year, his administration's legacies are already etched in the sands of time, marking a new dawn for Nigeria.
God Bless Federal Republic of Nigeria
(C) Blamingthedevil U b mumu 1 Like |
