NewStats: 3,265,520 , 8,187,073 topics. Date: Sunday, 15 June 2025 at 02:31 PM 1x5i50

The Economic and Financial Crimes Commission (EFCC) has revealed that over N50 billion recovered from fraud-related cases in 2024 has been invested into the Nigerian Education Loan Fund (NELFUND), ThisDay Nigeria reports.

In its 2024 statistical report released in Abuja, the anti-graft agency detailed its financial recoveries, which include N364.6 billion; $214.51 million; 54,319 euros; 31,265 pounds; CAD $2,990; and AUD $740. Additional recoveries were made in various currencies, including the CFA franc, UAE dirham, Saudi riyals, Japanese yen, Ghanaian cedi, and South African rand.

The EFCC stated that aside from financial recoveries, it achieved a record-breaking 4,111 convictions in 2024, the highest in its 22-year history.

The agency processed 15,724 petitions, conducted 12,928 investigations, and prosecuted 5,083 cases.

Lagos led in the number of convictions with 685, followed by Enugu and Ibadan, with 516 and 501 convictions, respectively.

The EFCC emphasized that a portion of the recovered funds was allocated to government initiatives aimed at benefiting Nigerians, particularly through the student loan scheme established under the Students Loans (Access to Higher Education) Act, 2024 by President Bola Tinubu.

https://thisdaynigeria.news/2025/03/10/we-invested-n50bn-recovered-from-fraudsters-into-student-loan-efcc/

The money has been shared
If you know
You know

Ok

U go explain taya

You Re-Looooted it.
Aluta continua, Vitoria aceta

Sirmwill:
The money has been shared
If you know
You know

Exactly

How did they invest in the so called Education fund?
Is that what the law says?
I hope it won't be looted again, but this time through Education.

Are Nigerians seeing the benefits of this NELFUND?

If there's allocation for this in Nigeria's budget, what then happens to it?

Looters of loots have loot it

What ever you say can not be verified, like most Nigerian agencies, the truth will emerge when they fall out with their boss.

However good to know you're making a difference.

Relooted

Cabal always know what to say to the public

Magu, Larmode, all relooted the booties of War against Corruption.

Relooted

I design websites at affordable prices

NEFUND

TooMuchStuff:
Relooted

Cabal always know what to say to the public

Only the gullible and naive ones believe Nigeria leaders. No word comes out of the mouth of Nigeria politicians that is true.

The ineptitude of EFCC needs to be talked about.

Apart from low-budget yahoo boys, which high profile economic thief has EFCC successfully prosecuted under the watch of the current EFCC head?

Someone convicted was released due to technicalities, EFCC did not re-open the case.

Someone was alleged to have paid school fees of his children, including a toddler, into 2033 and he has not been paraded like a yahoo boy.

What about the ant general alleged to have stolen more than 109 billion naira?

What about the grass cutter who inflated grass cutting contract in IDPs?

Why is there no end to Theodore Orji's case?

There was a case of massive fraud in the ministry of humanitarian affairs, disaster management where three women were indicted. Until today, EFCC has not released a report. No arrest has been made either.

Dear EFCC, look at NDLEA. NDLEA secures convictions and asset seizures, and they don't even make noise like you. EFCC has turned to Economic and Financial Confiscation Corporation where you recover pittances and expect us to celebrate you.

You are failing in your mandate.

You must be told.

Hmmmm

And this revelation is coming after the money is already gone/ spent. Shouldn't we have known this plan before they go ahead?

Dis year nah Benin go top. Benin people don too suffer for Efcc hand.

The EFCC stated that aside from financial recoveries, it achieved a record-breaking 4,111 convictions in 2024, the highest in its 22-year history.

Stupid idiot quote.
Were people suffering like this before 2024, that $1 went for almost N2000?
What do you expect?

If only the yahoo boys were allowed to keep their 50 billion, may be they would have invested in real estate and rents would have reduced but the Economic and Financial Criminals have shared the 50 billion 'educationally'.

See the head of the useless parapo attack dog dishing more lies to fool MU-MU ticket chanters of Apc cretins

This is serious

TEFTFUND NA THEM

Give scholarships

The people must feel the impact of our crude, the proceeds from crude oil is not just for politicians to enjoy... people deserve subsidies, welfare packages and availability of cheap food in the market, government must invest heavily in agriculture to ensure the price of food items drop drastically.

Recovered money do they even have the judiciary power to make use of it ? This country is fantastically corrupt.. imagine FBI telling Americans that they bought iPhones for operatives with the money they recovered from hushpuppy and go ..

the money should go into fixing the roads. not education that is already affordable

Construct a federal road and name it : Fraud way

Life no suppose hard🤷💯

Sirmwill:
The money has been shared
If you know
You know

OK, since you know, can you give us more updates?

Hmmm