NELFUND applauds Tinubu for landmark commitment to sustainable student loan financing
The Nigerian Education Loan Fund (NELFUND) has welcomed President Bola Tinubu’s directive to channel eligible liquid funds recovered by the Economic and Financial Crimes Commission (EFCC) to the student loan scheme.
In a statement issued on Thursday, Oseyemi Oluwatuyi, NELFUND director of strategic communications, said the Fund also welcomed the federal executive council’s (FEC) approval for unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund to be channelled to NELFUND.
The development comes as the student loan scheme continues to expand, with NELFUND saying it had disbursed more than N322 billion from over 1.6 million student loan applications as of August 2026.
Jim Ovia, chairman of the NELFUND board, thanked Tinubu for his continued support and confidence in the Fund.
Ovia said the decision further demonstrated the administration’s commitment to making access to higher education more inclusive and sustainable.
Akintunde Sawyerr, NELFUND managing director and chief executive officer (CEO), also thanked the president for his commitment to removing financial barriers to higher education.
“NELFUND deeply appreciates His Excellency, President Bola Ahmed Tinubu, for this significant intervention and for his unwavering commitment to ensuring that no Nigerian student is denied access to higher education because of financial constraints,” Sawyerr said.
He said the decision demonstrated Tinubu’s belief in the transformative power of education and would strengthen efforts to establish a sustainable student financing system.
“On behalf of the executive management, staff of NELFUND, and millions of Nigerian students, we thank Mr President for this confidence and assure him that we will continue to deploy every resource entrusted to the Fund responsibly, transparently and in the best interest of Nigerian students.”
NELFUND said the additional funding would strengthen the federal government’s efforts to establish sustainable financing for education and enable the Fund to support more eligible Nigerian students.
