In a significant move to boost education and combat corruption, the Economic and Financial Crimes Commission (EFCC) has released N50 billion to the Nigerian Education Loan Fund (NELFUND) from recovered assets.

This development was announced in a press statement on Tuesday, following a visit by NELFUND's head, Akinwunmi Sawyerr, to the EFCC headquarters.

EFCC Chairman, Ola Olukoyede, praised the student loan program, describing it as a crucial policy initiative to tackle corruption.

“He emphasized that the inability of many parents to fund their children's education has long been a predisposing factor to corruption, making students vulnerable to various economic and financial crimes.

"One of the main incentives to cybercrimes is the inability of parents to fund the education of their children.

“NELFUND is a policy issue against crimes. President Tinubu should be commended for initiating the Fund," Olukoyede said.

This funding is expected to support the student loan scheme, providing financial assistance to students in need.

The EFCC's gesture demonstrates its commitment to addressing the root causes of corruption and promoting education as a vital tool in the fight against economic and financial crimes.