The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, has explained how part of the funds recovered by the Commission were deployed for national development.
Olukoyede, in a statement on Monday via the official EFCC handle, said N50 billion from recovered proceeds last year was appropriated to the Nigerian Education Loan Fund (NELFUND).
According to him, over 200,000 Nigerian students have so far benefited from the fund.
He said the intervention has provided financial relief to students and improved access to higher education across the country.
“Also, part of the recovered funds has been directed toward the establishment of Credit Corporations, where civil servants can access credit at possibly single-digit interest rates,” he added.
Olukoyede noted that such initiatives are already yielding positive results in the economy.
“These recovered monies are not just warehoused; they are being channelled into initiatives that touch lives directly and stimulate economic activity,” he said.
He reaffirmed the EFCC’s commitment to ensuring that assets recovered from economic and financial crimes continue to serve the public good.
The Commission urged Nigerians to support its mandate by standing against corruption and promoting transparency.
