Olukoyede sheds light on N360b recovered loot, 753 duplexes.

Applauds Media,CSOs’ efforts at tackling corruption

JOSEPH OKWUOFU, Ibadan

The Executive Chairman, Economic and Financial Crimes Commission ( EFCC), Mr. Ola Olukoyede, has stated that all the recoveries made so far under him by the Commission are deposited to the Federal Government in the Central Bank of Nigeria.

According to Olukoyede, since he took over the mantle of leadership two years ago, the Commission has recovered the sum of N360b, and a massive estate comprising 753 duplexes from corrupt individuals and the money was deposited in the Central Bank of Nigeria, out of this, the federal government directed that N50b was released for students loan under the Nigerian Education Loan Fund (NELFUND ).

He added that the recovered 753 duplexes were handed over to the Federal Ministry of Housing , following a directive from the federal government that the houses should be completed and allocated to Nigerians.

Olukoyede who is making two years of impactful fight against corruption with a record of 4,111 convictions, further revealed that it is only the federal government that has the power to give directives on how the recovered loot will be spent.

He made the clarifications on Friday, October 17, 2025 at a one-day workshop held in Ibadan Zonal Directorate for Journalists and Civil Society Organizations, (CSOs), organized by the Commission.

Olukoyede who spoke through the Acting Zonal Director, Ibadan Directorate of the EFCC, ACE 1 Hauwa Garba Ringim and the Spokesperson of the anti-graft body, Dele Oyewale also hinted that the EFCC under the current leadership of Ola Olukoyede, in 2024 alone arraigned five ex-governors and five ex-ministers with no let or hindrance.

This is a display of political will by the Bola Tinubu’s administration to prosecute corruption cases to curb economic sabotage and infractions”, he said.

No Going Back On Strike, ASUU Tells FG.

YENAGOA – The President of the Academ­ic Staff Union of Universities (ASUU), Chris Piwuna, has re­stated that there is no going back on its planned two weeks nation­wide warning strike over some lingering issues, if the Federal Government fails to respond on or before October 13 expiry date.

The planned strike follows a two-week ultimatum issued by the union, last week, asking the Federal Government to address its unresolved issues, including the signing and implementation of the renegotiated 2009 ASUU-FGN agreement.

Speaking with newsmen during the Orientation/Lead­ership Training for Academic Staff Union, Niger Delta Univer­sity branch, Wilberforce Island, Bayelsa State, Piwuna insisted that the union has agreed on their position on a warning strike which will not change except their demands with the Federal Government are met.

He said, “The warning strike has been issued and we are not meeting to discuss that again as a union because our position has been taken, and by midnight of Monday we will embark on two weeks warning strike, after which we will meet after the ex­piration to decide when to begin an indefinite and comprehensive strike action.

“The issues still remain the same, re-negotiation of our 2009 documents is still lingering over the years, and we want Nigerians to know that we have been talking and the strike action is coming after several years of negotiations and we are not just jumping on a strike.

“We have given government enough time on this particular issue, just imagine they gave us three weeks to get back to us and never did till this moment. Ni­gerians must always look at the actions of government that has al­ways pushed us to such actions”.

On the issue of NELFUND, Pi­wuna said, “We have told govern­ment that we do not support loan in such a depressed economy. An economy where unemployment rate is high, families can’t feed, so where from where do they want them to repay the loan.

“If they truly want to give them monies, they should come out clean; where are the jobs that will enable them repay the loans, if the monies are meant to make the universities run better it should be given as a grant, not a loan.

Tinubu pointed to the Nigerian Education Loan Fund (NELFund) as one of the major interventions.
 
According to him, 510,000 students from 228 higher institutions across the 36 states and the FCT have benefited, with N99.5 billion disbursed in loans and N44.7 billion provided as upkeep allowances.

He further highlighted other initiatives, including Credicorp, which has provided N30 billion in affordable loans to 153,000 Nigerians for vehicles, solar energy, digital devices, and home improvements.

On youth empowerment, Tinubu noted that YouthCred, introduced last June, is now operational, granting National Youth Service Corps (NYSC) members access to consumer credit for resettlement after service.

Poor parenting, family neglect responsible for financial crimes among youths – EFCC boss, Olukoyede.

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has attributed the rising involvement of Nigerian youths in financial crimes to parenting failures and neglect within the family unit.

Speaking in Kaduna on Friday, September 19, 2025, at the Armed Forces Command and Staff College, Olukoyede, represented by the Acting Director of the Kaduna Zonal Directorate, Assistant Commander of the EFCC (ACE I) Bawa Usman Kaltungo, warned that family neglect has dire consequences, exposing young people to economic and financial crimes.

He noted that neglect often stems from poverty, ignorance, abdication of responsibility, and substance abuse, which manifest in the failure of families to provide emotional, psychological, and material support to children.

“The nexus between family dysfunction and youth criminality calls for a multi-dimensional approach, both in diagnosing the negative outcomes and in administering the required remedies,” he said. According to him, family support systems, mentorship, and youth development programmes such as sports could help channel young people’s energies into more productive ventures.

Olukoyede expressed concern that some tertiary institution students arrested for internet fraud often cite financial hardship and lack of family support as justification for their involvement in cybercrime.

He commended the Federal Government’s intervention through the Nigeria Education Loan Fund (NELFund), seeded with N50 billion recovered proceeds of crime by the EFCC, describing it as a timely measure to reduce students’ financial pressures and deter them from illicit activities.

Highlighting EFCC’s preventive and reorientation programmes, he listed the EFCC Integrity Club for primary and secondary schools, the Zero Tolerance Club for tertiary institutions, the EFCC/NYSC CDS Group for corps members, and the Commission’s National Cybercrime Summit as initiatives targeted at shielding young people from financial and economic crimes.

News Brief: ₦86bn Disbursed for 449,000 Beneficiaries — NELFUND

The Nigerian Education Loan Fund (NELFUND) has disbursed ₦86 billion to 449,000 students under its student loan scheme, out of 735,000 completed applications.
Managing Director Akintunde Sawyerr said ₦47 billion went to 218 tertiary institutions for school fees, while ₦38 billion was paid as stipends. Applications are increasing by 3,000–3,500 daily.

Sawyerr explained that loan processing takes 30–45 days, involving verification by applicants’ institutions before payment.
He also addressed ongoing ICPC and House of Representatives investigations into alleged discrepancies, stressing accountability and denying mismanagement.

#NELFUND #StudentLoans #NigeriaEducation #ICPC

Tinubu Celebrates Nigerian Teen Trio Who Emerged Global Champions in English & Debate in London!

President Bola Ahmed Tinubu has showered praise on three brilliant Nigerian teens — Nafisa Abdullahi Aminu, Rukayya Muhammad Fema, and Hadiza Kashim Kalli — for their outstanding performance at the 2025 TeenEagle Global Competition in London, UK.

— Nafisa (17) was crowned Overall Best in English Language Skills
— Rukayya (15) clinched Overall Best in Debate
— Hadiza earned the Outstanding Talent Award (Gold Medal)

President Tinubu, through his spokesperson Bayo Onanuga, congratulated the champions and emphasized that the achievements of these young stars reflect the bright future of Nigeria and the growing strength of the nation's educational system.

“These feats are testaments to the potential in our youths and the nurturing quality of our academic institutions,” the President said.

He also reaffirmed his commitment to educational reforms and equity, highlighting the role of the Nigerian Education Loan Fund (NELFUND) in removing financial barriers for deserving students.

#TeenEagle2025 #ProudlyNigerian #Tinubu #EducationChampions #GlobalStage #GirlsInDebate #NigerianExcellence

Over 396,000 Nigerian Students Get Lifeline Through FG’s Loan Scheme – NELFUND Reports Major Milestone


The Nigerian Education Loan Fund (NELFUND) has announced that 396,252 students have received financial support since the launch of its loan portal on May 24, 2024 — a major leap toward accessible higher education under the Renewed Hope Agenda.

According to the July 28, 2025 status report, out of 698,094 students registered, 680,948 have successfully applied, with over ₦77.03 billion disbursed so far. This includes ₦41.7 billion paid directly to 210 institutions for tuition and ₦35.3 billion in upkeep allowances to students.

NELFUND hailed the numbers as a historic boost for educational access in Nigeria, with daily portal activity still climbing.

#NELFUND #StudentLoans #EducationForAll #RenewedHopeAgenda #TinubuAdministration #NigerianStudents

NELFUND disburses N130 million to 2,193 students at Federal University, Gashua
The vice chancellor said that over 300 lecturers in the university benefited from the Tertiary Education Trust Fund’s (TETFund) research grant intervention.

The Nigerian Education Loan Fund (NELFUND) has disbursed over N130 million to 2,193 students at the Federal University, Gashua (FUGashua) in Yobe.

The university’s Vice Chancellor, Prof. Maimuna Waziri, stated this at a news conference in Gashua on Wednesday, ahead of the upcoming maiden and combined convocation of the institution.

She said that 276 of the students drew N16 million from the fund in the first batch, while 1,917 students received N114 million in the second batch.

According to her, the awareness campaign is ongoing to ensure that more students of the institution key into the scheme to minimise financial burden on their parents and guardians.

Ms Waziri said that over 300 lecturers in the university benefited from the Tertiary Education Trust Fund’s (TETFund) research grant intervention.

The vice chancellor said that a total of 62 capital projects were embarked upon at the institution from 2021 to 2024.

According to her, the projects were funded through TETFund, capital appropriation, organisations and philanthropists.

She said that 49 of the projects were completed, while 12 were ongoing and had reached between 50 to 80 per cent completion levels.

Ms Waziri said that a total of 3,449 graduands from six academic sets and across four faculties of Agriculture, Arts, Management and Social Sciences would be awarded first degrees.

She said that a set of 12 others would be awarded a higher degree in Master of Public Administration (MPA).

The vice chancellor said there would also be conferment of honorary doctorate degrees on the First Lady, Senator Remi Tinubu, Governor Mai Mala Buni, Senator Ibrahim Geidam and Minister for Police Affairs, Senator Ahmed Lawal, among others.

The convocation is slated for July 12.

A pre-convocation lecture titled, “Beyond the Horizon: Embracing the Unknown and Unlocking Your Full Potential” would be delivered by a former Minister of Communications and Digital Economy, Prof. Isa Pantami on July 11.

Tax Reform Act takes effect, workers earning less than N800,000 annually, exempted from taxation.

President Bola Ahmed Tinubu, on Thursday June 26, signed the tax reform bills into law, exempting workers earning below N800,000 annually from taxation.

Fresh Angle International, can report that the Act, which changed the nomenclature of Federal Inland Revenue Service, FIRS, to Nigeria Revenue Service, NRS, gives the NRS mandate to collect revenues previously handled by agencies such as the Nigeria Customs Service, NUPRC, NPA, and NIMASA.

Key highlights of the tax reform Act, include:

25% personal income tax applies only to individuals earning above ?50 million annually.

Small businesses owners are exempted from paying income tax.

Company income tax for medium and large companies will be reduced from 30% to 25% starting in 2026.

Value Added Tax (VAT) exemptions on essential goods and services consumed by the poor, including food items, medical services, pharmaceuticals, educational fees, and electricity.


VAT remains at 7.5%, and corporate income tax stays at 30%. NO INCREMENT!

Introduction of a Development Levy ranging from 4% to 2%, allocated to support the NELFUND, TETFund, NITDA, and NASENI.

For those asking what recovery monies are used for

- Part of the proceeds made last year was appropriated to NELFUND: N50Billion

- 200,000 students have benefited so far from NELFUND

- Also Credit Corporations where civil servants can easily go in and obtain credit probably in single digit interest rates

These have positively impacted the Economy of our Nation.
@OlaOlukoyede_


#TheEaglecares
#EFCCNigeria

For those asking what recovery monies are used for

- Part of the proceeds made last year was appropriated to NELFUND: N50Billion

- 200,000 students have benefited so far from NELFUND

- Also Credit Corporations where civil servants can easily go in and obtain credit probably in single digit interest rates

These have positively impacted the Economy of our Nation.
@OlaOlukoyede_


#TheEaglecares
#EFCCNigeria