The Economic and Financial Crimes Commission (EFCC) has recovered over ₦50 billion from fraudsters in 2024, with the funds reinvested into the Nigerian Education Loan Fund (NELFUND).
This initiative, created under the Students Loans Act of 2024, aims to remove financial barriers in higher education.
According to EFCC’s 2024 statistical report, this marks the agency’s largest single-year asset recovery since its founding in 2003.
The recovered funds include various currencies, such as ₦364.6 billion, $214.51 million, €54,319, and several others.
The EFCC emphasized that reinvesting these recoveries in education will help students complete their degrees and contribute to the workforce.
The agency also reaffirmed its commitment to strengthening asset recovery efforts and collaborating with local and international partners for sustainable development.
