President Bola Tinubu has directed that liquid funds recovered by the Economic and Financial Crimes Commission (EFCC), as well as unclaimed dividends from specified government trust funds, be channelled to the Nigerian Education Loan Fund (NELFUND).
Minister of Education, Tunji Alausa, disclosed this on Wednesday while briefing State House correspondents after the Federal Executive Council meeting presided over by the President in Abuja.
Mr Alausa said the directive was aimed at strengthening NELFUND’s finances as demand for student loans continues to grow.
“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,” Mr Alausa said.
The latest directive comes against the backdrop of a growing backlog of unclaimed dividends. The Securities and Exchange Commission (SEC) said in June 2025 that unclaimed dividends in Nigeria’s capital market had risen to N242 billion, from N190 billion in 2023.
