KEY WORDS TO HYPERLINK ARE:

1. Economic and Financial Crimes Commission (EFCC)

2. Federal Ministry of Education

3. Nigerian Education Loan Fund

EFCC transfers over 1,440 recovered assets to education ministry

* Recovered items to boost accommodation in Unity Schools

From Owede Agbajileke, Abuja

The Federal Government has redirected more than 1,440 assets recovered by the Economic and Financial Crimes Commission (EFCC) to the education sector, in a move aimed at transforming proceeds of corruption into investments that enhance teaching and learning across the country.

The assets, comprising 501 double-decker bed frames, 939 mattresses and 12 wooden beds with mattresses, were formally handed over to the Federal Ministry of Education during a restitution ceremony in Abuja.

Speaking at the ceremony, the Minister of Education, Dr Tunji Alausa, said the deployment of recovered assets to the education sector reflects President Bola Tinubu’s determination to ensure that resources reclaimed on behalf of Nigerians are channelled into projects that have a direct impact on citizens, especially children and young people.

Dr Alausa said education remains at the heart of the President’s ambition to build a $1 trillion economy through sustained investment in human capital. He explained that redirecting assets recovered from corrupt practices to schools is part of a deliberate policy to convert the proceeds of crime into opportunities that enhance learning, improve educational outcomes and secure a brighter future for Nigerian students.

The Minister noted that education has emerged as one of the major beneficiaries of the Federal Government’s asset recovery programme. He recalled that President Tinubu had previously approved the conversion of a forfeited university facility into the Federal University of Applied Sciences, Kachia, instead of disposing of the property through sale.

According to him, the institution has already enrolled more than 3,000 students in programmes covering applied sciences, engineering, nursing, health sciences and other strategic fields, thereby expanding access to quality education and equipping young Nigerians with skills required for national development.

Alausa added that the latest tranche of recovered assets would substantially improve student accommodation and welfare in colleges and other educational institutions nationwide.

He also hailed the EFCC Chairman, Ola Olukoyede, for enhancing public confidence in the Commission through professionalism, adherence to the rule of law and sustained efforts to tackle corruption, procurement fraud and cybercrime.

The transfer of the recovered assets was formalised through the signing of a Deed of Release by representatives of the EFCC and the Federal Ministry of Education, including the Ministry’s Permanent Secretary, Abel Enitan.

The recovered assets will be deployed to educational institutions across the country to improve student accommodation and strengthen learning infrastructure.

Alausa assured Nigerians that the recovered assets would be deployed transparently and equitably to Unity Schools across the country where they would directly improve student welfare, strengthen learning infrastructure and support the Federal Government’s commitment to providing accessible, inclusive and quality education for every Nigerian child.

Earlier, the anti-graft Chairman, Olukoyede, said the assets were recovered during Operation Eagle Flush, one of the largest cybercrime operations undertaken by the Commission.

He explained that the operation, conducted towards the end of 2024, led to the arrest of about 792 suspects, including foreign nationals, who were investigated, prosecuted, convicted and repatriated after serving their prison terms.

According to him, the restitution was carried out in line with the provisions of the Proceeds of Crime Act and the Federal Government’s commitment to ensuring that recovered assets are transparently deployed for national development.

Olukoyede said children and young people are among the greatest victims of corruption and financial crimes, making it appropriate that they should also benefit from assets recovered from criminal activities.

The EFCC Chairman also highlighted previous interventions in the education sector, including the transfer of the forfeited university facility that now operates as the Federal University of Applied Sciences, Kachia, and the deployment of recovered proceeds of crime to provide part of the seed funding for the Nigerian Education Loan Fund.

According to him, about 1.4 million students have already benefited from the education loan programme through tuition support and monthly upkeep allowances, easing financial burdens that often expose vulnerable young people to cybercrime and other financial offences.