President Bola Tinubu has reaffirmed his administration’s decision to channel all funds recovered by the Economic and Financial Crimes Commission (EFCC) into the Nigerian Education Loan Fund (NELFUND), declaring that the policy is irreversible.

Tinubu made this declaration on Friday, November 6, 2026, during the launch of Arise Palm Resort in Uyo, Akwa Ibom State.

The President explained that the decision was aimed at reducing the financial burden of tuition fees on parents and ensuring that Nigerians, regardless of their economic backgrounds, have equal opportunities to access higher education.

He said the initiative was part of his administration’s commitment to making education more accessible and using it as a tool to combat poverty.

Tinubu added that proceeds recovered through the government’s anti-corruption efforts would henceforth be redirected towards supporting students through the education loan scheme, stressing that the decision would not be reversed.

The directive was initially announced on August 19, 2026, with the Minister of Education, Dr Tunji Alausa, confirming that the Federal Executive Council (FEC) had also approved the transfer of unclaimed dividends in the Capital Market Trust Fund and funds in the Dormant Account Trust Fund to NELFUND.

Similarly, EFCC Chairman, Ola Olukoyede, disclosed on August 31 that the Federal Government had allocated ₦100 billion from funds recovered by the commission to the student loan programme since 2024.

He maintained that using recovered proceeds of crime to finance education and support households would ensure that anti-corruption efforts deliver tangible benefits to Nigerians beyond the prosecution and punishment of offenders.

Source: Platinum Post, November 7, 2026. Platinum Post News