HEDA supports EFCC oversight of NELFUND, advocates for recovered funds to benefit education sector

August 18, 2024.

By Samuel Ogunsona

The Human and Environmental Development Agenda (HEDA Resource Centre) has expressed strong support and commendation for the Economic and Financial Crimes Commission’s (EFCC) commitment to ensure transparency and accountability in the utilization of N50billion allocated to the Nigerian Education Loan Fund (NELFUND).

This substantial amount, as clarified by EFCC Chairman, Ola Olukoyede, is not a donation but a part of recovered proceeds of crime, which the government, under President Bola Ahmed Tinubu, has wisely directed towards the student loan scheme to benefit indigent Nigerian youths.

In a statement signed by HEDA’s Chairman, Olanrewaju Suraju, the civil society group commended the EFCC’s proactive stance in overseeing the disbursement and utilization of these funds, ensuring they achieve their intended purpose and impact.

Suraju noted, “As a civil society organization dedicated to promoting accountability and good governance, we recognize the critical role of oversight in guaranteeing that public resources are effectively utilized for the benefit of society’s most vulnerable segments.”

He added, “the dedication of #50billion to student loan support is in tandem with the UNCAC provision on the utilization of recovered proceeds of corruption to the direct benefit of “victims of corruption. The EFCC’s initiative to monitor these funds is a commendable step towards fulfilling the objectives of the Nigerian Education Loan Fund. With proper oversight, this initiative has the potential to significantly enhance educational opportunities for Nigerian youths, and contribute to national development.”