EMEFIELE: FINANCE MINISTRY UNAWARE OF N124.86BN CBN WITHDRAWAL, WITNESS TELLS COURT. (PHOTO). #PRESS RELEASE

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 Emefiele:  Finance Ministry Unaware of N124.86bn CBN Withdrawal,   Witness Tells Court   A Director in the Federal Ministry of Finance, Ali Mohammed, on Tuesday, October 6, 2026, told the Federal Capital Territory, FCT High Court sitting in Maitama, Abuja, that the Ministry was not aware of the withdrawal of N124.86 billion from the Central Bank of Nigeria, CBN.   Mohammed, who testified as the prosecution witness 10, PW10, in the ongoing trial of the former CBN Governor, Godwin Emefiele, disclosed this while being led in evidence by the prosecution counsel, Abbas Mohammed.   The witness said he appeared before the court because his Ministry received a letter from the investigation team concerning N154 billion said to have been withdrawn by the CBN.   Explaining his position and responsibilities in the Ministry, Mohammed said, “My Lord, the Department of Home Finance is made up of three functions based in three divisions, that is State and Public...
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NELFUND STUDENT LOAN APPLICATIONS HIT ONE MILLION; DISBURSES 116 BILLION NAIRA. (PHOTO).

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 NELFUND Student Loan 

Applications Hit One Million; Disburses 116 Billion Naira


The Nigerian Education Loan Fund 'NELFUND' says it has recorded over one million applications on its student loan portal since its official launch on May 24, 2024.


In a statement, NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, quotes the Managing Director and Chief Executive Officer, Akintunde Sawyerr, as describing the milestone as “a defining moment in Nigeria’s pursuit of equitable education financing.”

So far, the Fund has disbursed more than ₦116 billion in student loans, covering institutional fees and upkeep allowances for students across universities, polytechnics, and colleges of education nationwide.

NELFUND reaffirms its commitment to continuous process improvement and transparent disbursement to ensure that every qualified Nigerian student can access funding, regardless of background or location.

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