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JUST IN: NELFUND Receives ₦50bn Recovered Proceeds Of Crime

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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.

 

 

NEWS

Ministry Appoints New Director For DUFUTH, Uburu

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The Federal Ministry of Health and Social Welfare has approved the appointment of a new Acting Director of Administration for the David Umahi Federal University Teaching Hospital (DUFUTH), Uburu.

This was contained in a statement in Uburu on Thursday by the DUFUTH’s Public Relations Officer, Agwu N. O.

According to Agwu, the new appointee is Edith Anih, an indigene of Enugu State with relevant working experience, having worked at the University of Nigeria Teaching Hospital (UNTH), Enugu, where she was Deputy Director of Administration.

It was gathered that the approval was conveyed in a letter dated April 23, 2025, addressed to the Chief Medical Director.

Prior to her appointment, Anih held the position of Deputy Director of Administration at the University of Nigeria Teaching Hospital (UNTH), Enugu.

ALSO READ: CVFF- House of Reps Backs Marine & Blue Economy Ministry

He wrote, “Mrs. Anih Edith Ndidi is a seasoned administrator born on May 22, 1973. She is married and hails from Enugu State, specifically Enugu South Local Government Area.

“She holds a Bachelor’s degree in Public Administration and a Master’s degree in Human Resources Management. She is also an associate member of the Institute of Health Service Administrators of Nigeria (IHSAN).

“The Management of DUFUTH extends a warm welcome to the new DA and looks forward to collaborating with her as she brings a fresh perspective to the hospital’s administrative leadership.”

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NEWS

FG To Launch Forensic Audit Of NNPCL Amid Economic Reforms, Says Edun

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The Federal Government of Nigeria is set to launch a forensic audit of the Nigerian National Petroleum Company Limited (NNPCL), in a major move aimed at enhancing transparency and accountability in the oil and gas sector.

This was disclosed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, at the ongoing Nigerian Investor Forum, held on the sidelines of the IMF/World Bank Spring Meetings in Washington DC.

READ ALSO: Loans Necessary For Budget Despite High Revenue Collections – Wale Edun

Edun explained that the upcoming audit, along with recent changes in NNPCL management, is part of a broader effort to reform the state-owned oil company and rebuild trust in Nigeria’s economic institutions.

Addressing top global investors, including representatives from financial giant J.P. Morgan, Edun outlined a series of bold economic reforms introduced by the administration of President Bola Tinubu.

He said the measures are already yielding positive results and have laid a strong foundation for future growth.

“Our goal is not just to maintain this momentum, but to accelerate it,” Edun said. “We are targeting seven per cent annual growth, and we believe the policies we have implemented have laid the groundwork to achieve this.”

According to Edun, Nigeria’s economy grew by 3.84% in the fourth quarter of 2024, with an overall annual growth rate of 3.4%.

He described the government’s economic strategy as “unprecedented,” adding that key indicators such as the budget deficit, trade balance, and exchange rate have all shown signs of improvement.

“We said we would do it, and now we have done it. This time, we’re staying the course,” he emphasized.

The minister also highlighted the government’s focus on agriculture as a critical driver of economic growth, saying efforts are underway to close the food supply gap by empowering local producers.

“We aim to close the food supply gap, not by importing more, but by enabling domestic producers to scale and innovate,” he said.

In the area of infrastructure, Edun announced that 90,000km of fibre optic cable has been rolled out to boost internet connectivity, especially for young Nigerians and the tech ecosystem.

Additionally, 4,000km of roads have been earmarked for private sector participation, with the first 1,000km already approved for construction.

 

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International News

Russia Launches Deadliest Attack On Ukraine As Ceasefire Hopes Fade

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In the early hours of Thursday, Kyiv was rocked by a devastating Russian missile and drone attack, described by Ukrainian officials as one of the most brutal strikes on the capital since Russia’s full-scale invasion began in 2022.

The Ukrainian air force reported that Russia unleashed 70 missiles and 145 drones overnight, targeting several cities across the country.

The barrage on Kyiv left at least nine people dead and over 60 wounded, including six children.

READ ALSO: Suspected Attack: Explosion Strikes Russian Consulate In France

Air raid sirens blared across the capital around 1:00 a.m., warning residents to seek shelter.

Moments later, loud explosions shattered the night, lighting up the sky and shaking buildings. “Phone calls can be heard from under the rubble — the search will continue until we are confident that we have found everyone,” said Interior Minister Igor Klymenko.

He confirmed that two children remained unaccounted for amid the chaos.

Rescue workers scrambled to pull survivors from under collapsed buildings. Fires broke out across multiple apartment blocks, and damage was reported in at least 13 locations.

In one tragic scene in the Sviatoshinsky district, a woman sat on a foldout chair beside a covered body, gently stroking the arm of a loved one killed in the strike.

Nearby, a bloodied woman clutched her dog as a first responder spoke calmly to her, trying to provide comfort amid the destruction.

Prime Minister Denys Shmygal condemned the assault in stark terms. “Cruise and ballistic missiles, drones, air bombs — Russia is cruelly and cynically firing missiles at Ukrainian cities, killing people while the world is making efforts to establish peace,” he wrote on social media.

The attack came just hours after Ukrainian President Volodymyr Zelensky reiterated his call for a ceasefire. “Stopping the killings is the number one task,” Zelensky stated online following a meeting between his aides and Western officials in London.

However, any momentum toward peace appeared to falter. Russian President Vladimir Putin has yet to respond to Zelensky’s offer to halt airstrikes on civilian areas and previously dismissed a joint U.S.-Ukrainian proposal for an unconditional ceasefire.

“Putin demonstrates through his actions, not words, that he does not respect any peace efforts and only wants to continue the war,” said Foreign Minister Andriy Sybiga. Echoing that sentiment, presidential aide Andriy Yermak declared, “Putin shows only a desire to kill.”

Former U.S. President Donald Trump, speaking hours before the attack, claimed a peace deal with Russia was close.

He blamed Zelensky for stalling negotiations by refusing to accept Moscow’s annexation of Crimea, stating that Ukraine’s position “will do nothing but prolong the ‘killing field’.”

Meanwhile, Russian forces expanded their offensive to other regions.

In Kharkiv, at least seven missiles struck a densely populated residential district, according to city mayor Igor Terekhov. Russia’s defense ministry also reported downing 87 Ukrainian drones, including 45 over Crimea.

Earlier this month, Russia’s campaign of aerial terror intensified. A missile strike on the city of Sumy killed at least 35 people, while another attack on Zelensky’s hometown, Kryvyi Rih, claimed 19 lives — nine of them children.

 

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