The Nigerian Education Loan Fund has welcomed the Federal Government’s decision to direct eligible recovered assets and other dormant funds toward the student loan programme.
NELFUND said President Bola Tinubu had directed that qualifying liquid assets recovered by the Economic and Financial Crimes Commission should be transferred to the fund to meet growing financing obligations.
The fund also welcomed Federal Executive Council approval to redirect eligible unclaimed dividends from the Capital Market Trust Fund and resources from the Dormant Account Trust Fund.
NELFUND Chairman Jim Ovia said the decision would strengthen efforts to make higher education financing more inclusive and sustainable.
The intervention comes as the student loan programme continues to expand.
NELFUND said it had disbursed more than N322 billion through over 1.6 million loan applications as of August 2026.
Managing Director Akintunde Sawyerr said the additional funding demonstrated the administration’s commitment to ensuring that financial hardship did not prevent qualified Nigerians from continuing their education.
He said NELFUND would continue deploying resources transparently and in the interests of students.
The student loan scheme was created to provide eligible students with access to financing for tuition and related educational expenses.
The new funding sources are expected to strengthen the scheme’s ability to meet rising demand.
NELFUND said sustainable funding would remain important as applications continue to increase. The organization also pledged continued accountability in the management of assets and funds transferred to it under the new arrangement
