The Management of the Nigerian Education Loan Fund (NELFUND), has received an additional N50 billion from the Economic and Financial Crimes Commission (EFCC).

This was disclosed in a statement in Abuja, on Friday by the Director, Corporate Communications, NELFUND, Oseyemi Oluwatuyi.

ALSO READ: Applicants Rush NELFUND With Highest Single-Day Student Loan Application

According to Oluwatuyi, the release follows the directive of President Bola Tinubu in his speech on 4th August, 2024, directing the EFCC to transfer the funds to NELFUND to further boost the student loan program.

This significant injection of funds represents a major milestone in the Administration’s commitment to bolstering access to education by providing financial support to students across Nigeria.

The fund extends its deepest appreciation to President Bola Ahmed Tinubu for his unwavering dedication to the education sector and his continued efforts to support the most vulnerable segments of the population.

By deciding to allocate these funds to the student loan scheme, President Tinubu has once again demonstrated his visionary leadership and commitment to fostering a brighter future for Nigerian students and to the socioeconomic advancement of Nigeria.

She added that the NELFUND wishes to acknowledge and thank the EFCC under the leadership of its Executive Chairman, Ola Olukayode for their swift action ensuring the release of the funds.

Their diligent work has ensured that these resources has been promptly made available to benefit the education of our nation’s youth.

She noted that President Tinubu’s decision to direct these funds into NELFUND’s student loan scheme underscores the administration’s broader social intervention policy aimed at uplifting the most populous, yet disadvantaged segment of Nigerian society, the youth.

This infusion of funds will significantly boost the NELFUND’s ability to provide much-needed financial support to students, enabling them to pursue their academic aspirations without financial hindrance.

The NELFUND remains committed to utilizing these funds equitably, responsibly and efficiently, ensuring that they directly benefit those who need them the most and have already sought a partnership with EFCC to oversee the disbursement process.

With the support of the government and the EFCC, NELFUND will continue to drive forward the mission of expanding access to tertiary education for all aspiring Nigerian youth and increasing the employability of well educated graduates in both the academic and vocational sectors, Oluwatuyi stated.

Justice Kudirat Kekere-Ekun has been sworn in as Nigeria’s 23rd Chief Justice.

President Bola Ahmed Tinubu swore her in on Friday at 11.40 am at the Council Chamber of the State House, Abuja.

ALSO READ: JUST IN: Tinubu Names New NAHCON Chairman, Dismisses Arabi

During the ceremonies, she took the oath of office and signed the oath register, as CJN, pending her confirmation by the Senate.

She would be in acting capacity pending the endorsement of the upper chamber.

She succeeds Ariwoola, who assumed office on June 27, 2022, and bowed out on Thursday, upon attaining the mandatory retirement age of 70 years.

The Minister of Works, David Umahi, has announced that his ministry will not propose any new projects for the 2025 fiscal year in an effort to reduce or eliminate abandoned projects.

He raised concerns over a N16 trillion funding gap for more than 4,000 ongoing projects, many of which were inherited by the current administration.

Read Also: Adeleke Tackles Inflation, Food Security

Umahi made this known during a media briefing in Abuja on Thursday, marking his first year in office.

He stated, “We will not propose new projects for the 2025 fiscal year unless otherwise directed by Mr. President. At present, we have over 4,000 ongoing projects and a funding gap of N16 trillion, most of which were inherited by this administration. Some of these projects were awarded when the naira was exchanged at N150 to $1.”

The minister also highlighted that inflation has greatly increased the costs of these projects, making careful management of resources crucial for the country’s development.

More to follow……………