President Bola Tinubu on Wednesday directed that all liquid funds recovered by the Economic and Financial Crimes Commission, along with unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund, be diverted to the Nigerian Education Loan Fund to guarantee its long-term financial sustainability.
Minister of Education, Dr Tunji Alausa, disclosed this while briefing State House correspondents after the Federal Executive Council meeting presided over by Tinubu at the Presidential Villa, Abuja, on Wednesday.
The meeting is the council’s first sitting since June 29.
Alausa said, “The President has now directed that all funds recovered by the Economic and Financial Crimes Commission be diverted to NELFUND to continue to support its funding.
“This was also approved by FEC: that all unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund should also be directed to NELFUND, so that NELFUND will be financially buoyant to meet its growing obligations today.
