President directs recovered funds to NELFUND
President Bola Tinubu has directed that liquid funds recovered by the EFCC and unclaimed dividends held in the Capital Market Trust Fund and Dormant Account Trust Fund be channelled to the Nigerian Education Loan Fund (NELFUND). The transfers are limited to unencumbered monies not subject to legal disputes and exclude seized properties or assets under process. The move aims to strengthen NELFUND as its student loan programme expands; the fund has disbursed N322.69 billion, paid N192.89 billion to institutions and N129.80 billion to students, and processed 1,659,853 applications to date.
Unencumbered EFCC recoveries and unclaimed dividends will fund NELFUND.
Context
The government expanded the student loan programme and NELFUND began major disbursements…
The full analysis
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- Economic IndicatorIncreased government reallocation of…Locked
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- Follow-up QuestionsHow much unencumbered EFCC recovered…Locked
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