Tinubu: How We Spend Looted Funds Recovered By EFCC
- President Bola Tinubu made the claim during a 2027 re-election campaign rally in Jigawa State on Tuesday, November 10
- Tinubu linked EFCC fund recoveries to NELFUND, saying the money goes toward educating Nigerian children
- The president also promised that his administration would bring food prices down to their lowest levels
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President Bola Tinubu has revealed that all money recovered from financial irregularities by the Economic and Financial Crimes Commission (EFCC) is now being channelled into the Nigerian Education Loan Fund (NELFUND).
He made the disclosure on Tuesday, November 10, during a campaign rally held in Jigawa state, where he sought the support of voters ahead of the 2027 general elections.
Source: Twitter
"Every money recovered from irregularities by EFCC is now directed to NELFUND to educate our children," Tinubu told the crowd.
Tinubu on Food Prices and NELFUND
Beyond education funding, the president made broad economic promises to residents of the state, assuring them that Nigeria would become self-sufficient in food production.
"We can feed ourselves and we will bring the food prices down to the minimum," he said, adding that NELFUND is "the weapon against poverty."
The declaration is likely to draw attention from Nigerians who have long questioned how funds seized by the EFCC are accounted for and spent after recovery. The anti-corruption agency regularly announces asset forfeiture and cash recoveries from corruption suspects, but the final destination of such funds has rarely been publicly explained in detail.
NELFUND and EFCC recovery funds
NELFUND was established by the federal government to provide interest-free student loans to Nigerians seeking higher education. The fund has been central to President Tinubu's social investment agenda, though it has faced scrutiny over disbursement delays and allegations of double payments involving some tertiary institutions.
By tying EFCC recoveries directly to NELFUND, Tinubu appeared to be signalling a funding structure for the loan scheme that goes beyond the annual national budget, though he offered no further breakdown of figures or timelines during the rally.
See the video of Tinubu's statement on X here:
Tinubu dismisses allegation of one-party state
Legit.ng earlier reported that President Bola Tinubu commented on the recent allegation by some opposition politicians that he was working to turn Nigeria into a one-party state.
Speaking at the APC national summit in Abuja on May 22, he maintained that people were joining his party because they were driving the aspirations of the people.
Former Vice President Atiku Abubakar of the PDP and Peter Obi of the Labour Party had accused Tinubu of causing an opposition party crisis to stage his plan.
Source: Legit.ng
