Tinubu Directs EFCC Recoveries, Unclaimed Dividends To Student Loan Fund

President Bola Tinubu has directed that legally recovered EFCC funds and money from specified unclaimed-dividend and dormant-account funds be channelled to the Nigerian Education Loan Fund.

The decision is aimed at strengthening NELFUND as demand for student loans grows. Education Minister Tunji Alausa announced the directive after the Federal Executive Council meeting in Abuja on Wednesday.

Premium Times reported that the directive covers liquid funds recovered by the Economic and Financial Crimes Commission, as well as unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund.

Daily Trust reported that Alausa said the plan would apply only to money that had been legally recovered and was no longer tied to litigation. The minister also said use of the trust-fund money would have to comply with the laws setting up those funds.

Vanguard reported that NELFUND welcomed the decision and said the student loan scheme had disbursed more than N322 billion through over 1.6 million applications as of August 2026.

The funding decision links anti-corruption recoveries and dormant financial assets to the student loan programme, but the practical effect will depend on how much money is legally available and how quickly it reaches the fund.

Sources: Premium Times, Daily Trust, Vanguard