Tinubu Approves ₦50bn Recovered Funds for NELFUND and CreditCorp, EFCC Says

EFCC Chairman Ola Olukoyede says President Bola Tinubu approved a fresh ₦50 billion from the commission’s Proceeds of Crime Account for the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CreditCorp). Olukoyede said the funding recognises the agencies’ performance and argued that stronger education and consumer-credit policies can prevent corruption and financial crime before law-enforcement action becomes necessary. He linked limited access to schooling and affordable credit to pressures that can drive young people and public servants into cybercrime or other illicit activity. CreditCorp Managing Director Uzoma Nwagba said the corporation has disbursed about ₦47 billion in consumer credit to more than 301,000 Nigerians, with no non-performing loans reported. He added that the agency is working with the CBN on a credit system linked to NIN records and plans to expand support for youths, women, pensioners and persons with disabilities.

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