NEWS
JUST IN: NELFUND Receives ₦50bn Recovered Proceeds Of Crime
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.
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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.
A massive rescue operation by the Borno State Emergency Management Agency (SEMA) has saved 719 people stranded by floods in Maiduguri and Jere, bringing hope to affected communities.
SEMA Director-General, Mohammed Barkindo confirmed that the agency’s divers and emergency responders worked tirelessly to reach victims trapped in flooded areas, using makeshift facilities to facilitate the rescue.
Notably, all 719 rescued individuals opted to stay with relatives or in private residences, declining temporary camp accommodations.
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SEMA has ensured their safety by documenting contact information for ongoing support.
He said, “SEMA went with divers and rescued 719 people trapped in trees and upstairs, taking them to their chosen locations. The rescue operations started yesterday and continued up to this time today.
“We documented their contacts to check on their well-being since they were taken to private residences, where they insisted on living with their relatives.
“Virtually all those we rescued, especially along Lagos Street, said they preferred to stay with their relatives, while the rest also suggested better options. None of the 719 was taken to the camp.”
President Bola Tinubu has reaffirmed his administration’s commitment to restoring confidence in Nigeria’s economy through initiatives aimed at reducing inflation, stabilizing the foreign exchange market, and enhancing fiscal management.
Speaking at the 17th Annual Chartered Institute of Bankers of Nigeria (CIBN) Banking and Finance Conference in Abuja on Tuesday, Tinubu, represented by Vice President Kashim Shettima, praised the conference’s theme, “Accelerating Economic Growth and Development: The State of Play and the Way Forward,” as timely and essential.
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Tinubu acknowledged that the conference was convened during a period of significant challenges, including high inflation, rising living costs, unemployment, infrastructure deficits, and the impacts of global economic changes.
Despite these challenges, he pointed out that they also offer opportunities for growth and development.
The President noted that his administration has undertaken bold yet difficult reforms to address the macroeconomic issues facing the country.
He said, “Though painful in the short term, the removal of fuel subsidies is designed to free up budgetary resources for critical investments in infrastructure and social services. The adjustment of the monetary policy rate, a move aimed at curbing inflation and fostering a more market-oriented exchange rate system.
Tinubu also noted that his administration was committed to strengthening infrastructure development in the ongoing bid to grow Nigeria’s economy.
He added “We are committed to upgrading Nigeria’s infrastructure to support economic growth. We are investing in roads, railways, and energy projects through public-private partnerships to reduce transportation costs and improve market access.”
The media aide to Labour Party presidential candidate, Valentine Obienyem, has denied reports of Obi’s arrest by the Department of State Services (DSS).
In a statement released on Tuesday, Obienyem described the reports as “entirely false and baseless”.
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He explained that the rumour emerged on Saturday but was promptly refuted.
Obienyem further clarified that Obi was not in Anambra State at the time of the alleged incident, dismissing claims that he was arrested alongside his wife, Margaret.
The media aide urged the public to disregard the false reports and remain vigilant against misinformation. He assured that official communications regarding Obi will be released through proper channels.
Obienyem said, “As of Saturday, Mr. Obi was in Rwanda attending to important engagements. He has since returned to Nigeria and is currently in Edo State, where he is actively involved in party and national matters. There was no DSS operation at his residence, and no arrest was made.
“As the situation develops, Mr. Obi continues to focus on his commitment to the nation, while his team remains steadfast in providing accurate updates on his activities.” It added
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