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The Economic and Financial Crimes Commission (EFCC) has stated that the N50 billion given to the Nigerian Education Loan Fund (NELFUND) was not a donation from the agency but part of the recovered loot given for student loans as directed by the president.
Reacting to report that the funds were donations to NELFUND, the EFCC spokesperson, Dele Oyewale said, “The said fund was not a donation by the commission but part of the recovered proceeds of crime remitted to the government.”
He further said, the commission does not have the right to determine how to disburse recovered loot but only follow the directive of the president.
