The Nigerian Education Loan Fund (NELFUND) has secured additional funding support from the Federal Government, following President Bola Ahmed Tinubu’s directive 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.
NELFUND 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 the Fund.
The development comes as NELFUND’s student loan programme continues to expand, with the Fund disbursing more than N322 billion through over 1.6 million student loan applications as of August 2026.
In a statement signed by Oseyemi Oluwatuyi, Director of Strategic Communications, NELFUND said the additional funding would strengthen the sustainability of the student financing scheme and enable it to reach more eligible Nigerian students.
Jim Ovia, Chairman of the NELFUND Board, expressed appreciation to President Tinubu for his continued support and confidence in the Fund.
