By Nkechi Eze
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has called on the House of Representatives to join forces with the Commission in ensuring that the Nigerian Education Loan Fund (NELFund) becomes a functional and transparent model for youth empowerment through higher education.
Dele Oyewale, the Efcc spokesperson in an official signed statement disclosed that Olukoyede made the appeal on Tuesday, July 29, 2025, during a working visit by members of the House Committee on Students Loans, Scholarships and Higher Education Financing, led by its Chairman, Hon. Ifeoluwa Ehindero. The meeting, held at the EFCC headquarters, focused on fostering inter-agency collaboration to safeguard the integrity of the newly established loan scheme.
“It is important to make sure that this scheme succeeds, because we pass good laws but the implementation is always lacking,” Olukoyede said. “So, we need to strengthen these processes to make impact and to do that, you have to make sacrifices. We should be ready to work. At least for once, let’s give Nigerians a sense of good governance, so that not only here, but in the comity of nations, they can see what we are doing and be proud of us.”
He emphasized the importance of transparency in the operations of NELFund, which he described as a groundbreaking initiative of the present administration, backed by a N50 billion seed fund provided through the support of the EFCC.
“The NELFund is an agency we have to partner with. You can’t take away the impact that it is having on young Nigerians,” Olukoyede stated. “We should beam our searchlights on NELFund. If they know that the National Assembly has a searchlight on them, it will go a long way in checkmating them.”
He also highlighted his administration’s shift toward a proactive approach in fighting corruption, revealing that one of his first actions as EFCC Chairman was the creation of a Fraud Risk Assessment and Control Department, focused squarely on preventing corruption before it occurs.
Acknowledging the efforts of the National Assembly, Olukoyede promised to establish a NELFund Desk within the EFCC to facilitate timely information sharing, swift action, and inter-agency coordination.
Responding during the visit, Hon. Ifeoluwa Ehindero lauded Olukoyede’s leadership, praising his strategic direction and expressing confidence in the EFCC’s capabilities. He assured the Commission of the Committee’s full readiness to collaborate with the EFCC in ensuring that every qualified Nigerian student is able to access higher education without financial constraints.
Ehindero noted that public expectations were high regarding the integrity and oversight of NELFund’s operations. He stressed the determination of lawmakers to prevent irregularities and unethical practices from undermining the goals of the scheme.
“We look forward to a strong and sustained collaboration with the EFCC in joint monitoring and auditing of NELFund disbursements and processes, sharing of intelligence and data, and capacity building in developing anti-corruption frameworks within NELFund and its partner institutions,” he said.
He further commended the EFCC for its N50 billion contribution to the take-off of NELFund, describing it as a demonstration of the Commission’s strong commitment to national development and a clear recognition of education as a fundamental weapon against poverty, ignorance, and crime.
