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BREAKING: Tinubu redirects EFCC-recovered funds, unclaimed dividends to student loan scheme
BREAKING: Tinubu Redirects EFCC-Recovered Funds, Unclaimed Dividends to Student Loan Scheme
President Bola Tinubu has directed that liquid funds recovered by the Economic and Financial Crimes Commission be transferred to the Nigerian Education Loan Fund to support its growing financial obligations.
President Bola Tinubu
The Minister of Education, Dr Tunji Alausa, disclosed this on Wednesday while briefing State House correspondents after the Federal Executive Council meeting.
Alausa said the council also approved a presidential directive for all unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund to be channelled to NELFUND.
He said the move was intended to strengthen the fund’s finances and enable it to meet its expanding obligations to Nigerian students.
“The President, in his benevolence, has now directed that all funds recovered by the Economic and Financial Crimes Commission be diverted to NELFUND to continue to support its funding,” the minister said.
“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.”
Alausa clarified that the directive applied only to liquid funds and did not include seized properties or recovered funds currently subject to legal disputes.
“Note, and the President was very clear, not seized properties or recovered looted funds, but liquid funds from the EFCC will now be transferred to NELFUND,” he said.
The minister said the directive was consistent with President Tinubu’s campaign promise to expand access to education for Nigerian students.
He added that the funds would include unencumbered monies that are not under legal contention.
Adamawa Assembly Moves to Repeal College of Education Hong Law
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Governor Fintiri Pardons Nine Inmates, Commutes Death Sentence to Mark Nigeria’s 66th Independence Anniversary In commemoration of Nigeria’s 66th Independence Day celebration, Governor Ahmadu Umaru Fintiri of Adamawa State has granted pardons to nine inmates serving various terms in correctional facilities across the state. A statement issued by the Chief Press Secretary to the Governor, Humwashi Wonosikou, said the Governor ordered the immediate release of the pardoned inmates, noting that all legal formalities had been concluded with the Nigerian Correctional Service. “The Governor acted on the advice of the Advisory Committee on the Prerogative of Mercy and in exercise of the powers conferred on him by Section 212(1)(d) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended),” the statement said. According to the statement, those granted pardon and discharged include Abubakar Dajo, who was serving at the Maximum Security Custodial Centre, Jos; Zabadi Ayuba and Salvation Nyamso, both serving at the Numan Custodial Centre. Others are Amir Idris, Mohammed Saidu, Yaro Sambo, Buhari Salisu, Urube Samuel and Bamaiyi Amos, who were discharged from the Jimeta, Ganye, Guyuk, Yola Old and Kojoli Custodial Centres, respectively. In addition to the pardons, Governor Fintiri approved the commutation of the death sentence imposed on one inmate, Saidu Abdullahi of the Yola Old Custodial Centre, to life imprisonment. The Governor’s action, the statement noted, was in the spirit of the Independence anniversary and reflects the government’s commitment to mercy, justice and the rehabilitation of offenders. The pardons and commutation take immediate effect, the statement added.
Adamawa Assembly Moves to Repeal College of Education Hong Law
BREAKING NEWS: Bridge Collapse Cuts Off Maiha-Mubi Road, Community Stranded
Adamawa Govt Pledges Stronger Media Partnership Ahead of 2027 Elections
Governor Fintiri Pardons Nine Inmates, Commutes Death Sentence to Mark Nigeria’s 66th Independence Anniversary In commemoration of Nigeria’s 66th Independence Day celebration, Governor Ahmadu Umaru Fintiri of Adamawa State has granted pardons to nine inmates serving various terms in correctional facilities across the state. A statement issued by the Chief Press Secretary to the Governor, Humwashi Wonosikou, said the Governor ordered the immediate release of the pardoned inmates, noting that all legal formalities had been concluded with the Nigerian Correctional Service. “The Governor acted on the advice of the Advisory Committee on the Prerogative of Mercy and in exercise of the powers conferred on him by Section 212(1)(d) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended),” the statement said. According to the statement, those granted pardon and discharged include Abubakar Dajo, who was serving at the Maximum Security Custodial Centre, Jos; Zabadi Ayuba and Salvation Nyamso, both serving at the Numan Custodial Centre. Others are Amir Idris, Mohammed Saidu, Yaro Sambo, Buhari Salisu, Urube Samuel and Bamaiyi Amos, who were discharged from the Jimeta, Ganye, Guyuk, Yola Old and Kojoli Custodial Centres, respectively. In addition to the pardons, Governor Fintiri approved the commutation of the death sentence imposed on one inmate, Saidu Abdullahi of the Yola Old Custodial Centre, to life imprisonment. The Governor’s action, the statement noted, was in the spirit of the Independence anniversary and reflects the government’s commitment to mercy, justice and the rehabilitation of offenders. The pardons and commutation take immediate effect, the statement added.
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