The Nigerian Education Loan Fund (NELFUND) and the Economic and Financial Crimes Commission (EFCC) have entered into a new partnership designed to strengthen institutional cooperation, promote transparency and accountability, and explore additional avenues for supporting sustainable financing for tertiary education.
The two government institutions formalised the partnership through the signing of a Memorandum of Understanding (MoU) during a high-level engagement held on Wednesday, September 23, 2026.
Leading the NELFUND delegation was the Fund’s Managing Director/Chief Executive, Mr. Akintunde Sawyerr, accompanied by the Executive Director, Operations, Mr. Mustapha Iyal, and other senior officials.
One of the major areas addressed under the agreement is the potential collaboration around funds recovered through EFCC activities, with discussions examining how such resources could support NELFUND’s mandate of expanding access to sustainable tertiary education financing, in line with applicable laws, regulations and procedures.
The partnership, however, goes beyond funding. Both institutions also explored ways to strengthen operational processes, improve institutional controls, identify potential loopholes and promote systems that enhance accountability in the management and deployment of resources.
For NELFUND, the engagement represents an opportunity to deepen collaboration with a key government institution while reinforcing the structures required to ensure that student financing resources are managed transparently and efficiently.
Following the engagement, Sawyerr and Iyal featured in a brief interview at the EFCC Radio Station, where they spoke on the significance of the meeting, the newly signed MoU and the importance of stronger inter-agency cooperation in advancing NELFUND’s objectives.
The delegation also included Dr. Zino Ugboma, Director, Human Resources; Hajiya Lami Suwaid, Director, Loan Allocation & Distribution; Ms. Oluwatosin Sanusi, Head, Investment & Fund Management; Mr. Tolutayo Olajolo, Head, Facility & Fleet Management; Mrs. Chekwube Okwara, Head, Anti-Corruption and Transparency Unit; Mr. Akeem Lawal, Consultant on Anti-Corruption; Mrs. Tobechukwu Rapu-uneanya, Manager, Legal; and Mr. Daniel Adeniran, Assistant Manager, Strategic Communications.
The latest development further underscores NELFUND’s focus on strategic partnerships, stronger institutional safeguards and transparent resource management as the Fund continues to implement its mandate of providing financing support to Nigerian students.
With the MoU now in place, both institutions are expected to leverage their respective mandates and expertise to strengthen systems, improve accountability and explore opportunities capable of contributing to a more sustainable higher-education financing framework.
