OAU and UNILAG among others receive ₦2.9 trillion Student Loan from NELFUND.
NewsOnline Nigeria reports that the Nigerian Education Loan Fund (NELFUND), has announced that it has disbursed the sum of ₦2,946,927,155 of the student loan to 27,667 students from 19 institutions nationwide.
The development was disclosed via the NELFUND X handle on Friday.
On August 14, 2024, it said students from 22 state-owned tertiary institutions had been cleared to apply for student loans after a review by the committee for the Student Verification System, which brought the total number of approved state institutions to 108.
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See the full list of approved institutions and the approved amount paid:
University of Maiduguri — ₦589,001,500
University of Ibadan –₦201,114,650
University of Ilorin — ₦52,897,890
University of Benin — ₦24,412,500
Federal University, Dutsin-Ma — ₦304,961,800
Bayero University, Kano — ₦853,775,000
Federal College of Education, Abeokuta ₦1,945,700
Federal University of Technology, Minna — ₦62,928,600
Obafemi Awolowo University, Ile Ife — ₦50,414,000
Federal Polytechnic, Ilaro — ₦8,347,465
University of Lagos — ₦122,494,400
University of Jos — ₦209,320,000
Federal College of Education (Technical), Gusau –₦15,600,200
Federal College of Education (Special), Oyo — ₦18,502,500
Federal University, Dutse — ₦207,106,000
Federal University, Birnin-Kebbi — ₦130,002,800
Modibbo Adama University, Adamawa — ₦83,837,850
Federal Polytechnic, Bauchi — ₦7,218,800
Federal Polytechnic, Mubi — ₦2,045,500
You Can’t Channel Recovered Loot To Student Loan – PDP Chieftain To EFCC
Meanwhile, a chieftain of the Peoples Democratic Party (PDP) Silas Onu, has said the Economic and Financial Crimes Commission (EFCC) lacked the right to channel recovered loot to a student loan scheme.
The former Ebonyi South PDP senatorial candidate said EFCC must send all the money it has recovered as proceeds of corruption to the federation account in line with the country’s law.
Onu, a former chairman of Ebonyi PDP, said this on Wednesday, in reaction to ₦50 billion donated by EFCC to Nigerian Education Loan Fund (NELFUND).
On the commission’s website, on Tuesday, EFCC disclosed that NELFUND’s Director and Chief Executive Officer, Mr. Akintunde Sawyerr, led his team to the commission’s headquarters in Abuja.
The statement said the visit was in appreciation for ₦50 billion donated to the student loan scheme. “We are aware of the funds from the proceeds of crime extended to NELFUND. We are here to express our gratitude for the gesture. We also want the EFCC to exercise oversight on what we are doing,” it quoted Sawyerr.
In reaction to his X handle, Onu noted that EFCC’s donation of recovered loot without following the law was a crime.
He advised NELFUND against using the donation from EFCC.
“Does EFCC have the powers to appropriate Nigeria’s money recovered from fraudulent persons in any way? I think that this singular act by EFCC is also a financial crime. All monies must be sent to the Federation Account and appropriated by the National Assembly, not EFCC. NELFUND should not touch a penny of that sum until this question is resolved,” Onu said.
Recall that NewsOnline Nigeria reported that the Senior Special Assistant to President Bola Tinubu on Citizenship and Leadership, Rinsola Abiola, revealed that the federal government channelled ₦50 billion to a student loan scheme.
Abiola said the move was a win in the federal government’s war against corruption. She added that another ₦50 billion recovered by EFCC was also channelled to Credit Corps scheme of the government.
