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Nigeria: Tinubu directs EFCC recoveries and unclaimed dividends to NELFUND
President Bola Tinubu has directed that liquid funds recovered by the Economic and Financial Crimes Commission (EFCC) be transferred to the Nigerian Education Loan Fund (NELFUND) to bolster its financial capacity. The Federal Executive Council also approved the channeling of unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund to the student loan agency. These unclaimed dividends are estimated to be approximately ₦242 billion.
Minister of Education Dr. Tunji Alausa clarified that the directive applies only to unencumbered, liquid funds and excludes seized properties or assets currently involved in legal disputes. The move aims to support NELFUND as it manages increasing financial obligations, having already disbursed over ₦322 billion through more than 1.6 million applications as of August 2026.
In a separate administrative development, President Tinubu appointed Abel Olumuyiwa Enitan as the new Head of the Civil Service of the Federation, effective August 27, 2026. Enitan, currently the Permanent Secretary in the Federal Ministry of Education, succeeds Didi Esther Walson-Jack, who is retiring upon reaching the statutory age of 60.
Entities
Abel Olumuyiwa Enitan · Bayo Onanuga · Bola Ahmed Tinubu · Bola Tinubu · Didi Esther Walson-Jack · EFCC · Economic and Financial Crimes Commission · Federal Civil Service of Nigeria · Muttaqha Rabe Darma · NELFUND · Nigeria · Nigerian Education Loan Fund
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 9 SOURCES] President Bola Tinubu has directed that funds recovered by the Economic and Financial Crimes Commission be channeled to the Nigerian Education Loan Fund, NELFUND. acnntv.com · gwg.ng · newsonlineng.com · thevoicenewsmagazine.com · bizwatchnigeria.ng · +3 more
- [● 10 SOURCES] Abel Olumuyiwa Enitan succeeds Didi Esther Walson-Jack, who is retiring upon reaching the statutory age of 60. platinumpost.news · www.worldstagenews.com · newswings.com.ng · nnn.ng · authorityngr.com · +1 more
- [● 10 SOURCES] President Bola Tinubu appointed Abel Olumuyiwa Enitan as the new Head of the Civil Service of the Federation, effective August 27, 2026. platinumpost.news · www.worldstagenews.com · newswings.com.ng · nnn.ng · authorityngr.com · +1 more
- [● 6 SOURCES] Only liquid EFCC recoveries not subject to ongoing legal disputes or litigation will be transferred to NELFUND. acnntv.com · newsonlineng.com · bizwatchnigeria.ng · thevoicenewsmagazine.com · primanews.org
- [● 2 SOURCES] NELFUND has disbursed over ₦322 billion through more than 1.6 million student loan applications as of August 2026. bentelevision.com · nannews.ng
- [● 9 SOURCES] The Federal Executive Council approved channeling unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund to NELFUND. acnntv.com · gwg.ng · newsonlineng.com · bizwatchnigeria.ng · bentelevision.com · +3 more
- [○ 1 SOURCE] Unclaimed dividends from the Capital Market Trust Fund and Dormant Account Trust Fund are estimated at approximately N242 billion. bizwatchnigeria.ng