Video: How we spent recovered N50bn — EFCC
Abdullateef Fowewe
The Economic and Financial Crimes Commission has clarified the use of recovered public funds, highlighting their role in supporting national development projects.
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In a video featuring the agency’s chairman, Ola Olukoyede, it was revealed that N50 billion from last year’s recovered funds was designated for the Nigeria Education Loan Fund (NELFUND).
The EFCC reported that more than 200,000 students have benefited from NELFUND, receiving financial assistance to continue their education.
Additionally, the Commission pointed out that a portion of the recovered funds has been allocated to the creation of Credit Corporations, aimed at providing civil servants with easier access to credit at affordable interest rates, potentially as low as single digits.
