The Nigerian Education Loan Fund (NELFUND) has commended President Bola Ahmed Tinubu for directing that eligible liquid funds recovered by the Economic and Financial Crimes Commission (EFCC) be channelled to the Fund to support its growing student loan obligations.

The Fund also welcomed the Federal Executive Council’s approval for unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund to be directed to NELFUND.

The development comes as the student loan scheme continues to expand, with NELFUND disbursing more than ₦322 billion through over 1.6 million student loan applications as of August 2026.

Chairman of the NELFUND Board, Mr. Jim Ovia, expressed appreciation to President Tinubu for his continued support and confidence in the Fund.

Ovia said the latest intervention further demonstrates the administration’s commitment to making access to higher education more inclusive and ensuring the sustainability of student financing in Nigeria.

Also speaking, NELFUND Managing Director and Chief Executive Officer, Mr. Akintunde Sawyerr, thanked the President for his continued efforts to remove financial barriers to higher education.

Sawyerr said the decision reflected the President’s belief in the transformative power of education and would strengthen efforts to establish a sustainable student financing system for Nigerian students.

He assured that NELFUND would continue to deploy resources entrusted to it responsibly and transparently, in the best interest of Nigerian students.

According to him, the intervention would further strengthen the financing of the student loan programme and enable the Fund to reach more eligible students across the country.

NELFUND said the development underscores the administration’s commitment to expanding access to higher education while building a sustainable financing framework capable of supporting Nigerian students in the long term.