The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has called on the House of Representatives to collaborate with the Commission in ensuring the success and integrity of the Nigerian Education Loan Fund (NELFund).
Olukoyede appealed on Tuesday, while receiving members of the House Committee on Students Loans, Scholarships, and Higher Education Financing, led by its Chairman, Hon. Ifeoluwa Ehindero, on a working visit to the EFCC headquarters.
Emphasizing the importance of effective implementation, Olukoyede said: “We pass good laws, but implementation is often the missing link. We must make this scheme work, NELFund should be a model of good governance and accountability.”
He praised the current administration’s commitment, noting the EFCC’s contribution of ₦50 billion as seed capital to support the takeoff of NELFund, which he described as a historic milestone. He stressed the need for continuous oversight:
“We must beam our searchlights on NELFund. Knowing the National Assembly is watching will help deter misconduct. Prevention is key, we shouldn’t wait until things go wrong.”
To bolster transparency, Olukoyede announced plans to create a dedicated NELFund Desk within the EFCC to facilitate seamless information sharing and proactive action.
In his remarks, Hon. Ehindero commended Olukoyede’s leadership and affirmed the Committee’s readiness to partner with the EFCC in safeguarding the integrity of the loan scheme.
He acknowledged growing public concerns about potential irregularities in NELFund’s operations and said the Committee is committed to robust oversight in collaboration with anti-corruption agencies.
“We look forward to working closely with the EFCC in monitoring disbursements, auditing processes, sharing intelligence, and building anti-corruption frameworks within NELFund and its partner institutions,” Ehindero stated.
He also hailed the EFCC’s financial support to the Fund as a reflection of its dedication to national development, describing education as a vital tool in fighting poverty, ignorance, and crime.
Ehindero concluded by praising Olukoyede’s sincerity of purpose and urged him to sustain his efforts toward building a more accountable and just society.
(EFCC)
