The Federal Government has reaffirmed its commitment to transforming recovered proceeds of crime into strategic investments in education as the Economic and Financial Crimes Commission (EFCC) formally handed over recovered assets to the Federal Ministry of Education for deployment across educational schools nationwide.
Receiving the assets at the EFCC Headquarters in Abuja, the Honourable Minister of Education, Dr. Maruf Tunji Alausa, CON, described the restitution as another demonstration of President Bola Ahmed Tinubu’s commitment to education, human capital development and the Renewed Hope Agenda.
The Minister said President Tinubu’s vision of building a one trillion dollar economy is anchored on education as the bedrock of the economy, noting that recovered national assets are now being deliberately redirected to improve learning infrastructure, expand access to quality education and create opportunities for Nigerian children and young people.
Dr. Alausa commended the Executive Chairman of the EFCC, Mr. Ola Olukoyede, and the management of the Commission for their professionalism, integrity and commitment to combating corruption while ensuring that recovered assets deliver tangible benefits to Nigerians.
He noted that the education sector has become one of the greatest beneficiaries of the Federal Government’s asset recovery policy, recalling that a forfeited private university was converted into the Federal University of Applied Sciences, Kachia, where over 3,000 students are studying medicine, nursing, engineering, health sciences and other applied science programmes. He added that recovered proceeds also provided part of the seed funding for the Nigerian Education Loan Fund (NELFUND), which has enabled more than 1.4 million students to access higher education through tuition and upkeep support.
“Every child we educate is a future innovator, entrepreneur and nation builder. By investing in quality education, we are reducing the vulnerability of our young people to crime and laying the foundation for Nigeria’s economic transformation,” the Minister said.
Dr. Alausa assured Nigerians that the recovered assets would be transparently deployed to Federal Unity Colleges, Federal Technical Colleges and other educational institutions to improve accommodation, strengthen learning facilities and enhance students’ welfare.
Earlier, EFCC Executive Chairman, Mr. Ola Olukoyede, formally handed over 501 double decker bed frames, 939 mattresses and 12 wooden beds with mattresses, recovered during Operation Eagle Flush, one of the Commission’s largest anti cybercrime operations. He disclosed that the operation led to the arrest of about 792 suspects, including foreign nationals, who were investigated, prosecuted, convicted and repatriated after serving their sentences.
Olukoyede explained that the restitution was carried out in line with the Proceeds of Crime Act and the Federal Government’s commitment to ensuring that recovered assets are transparently deployed for national development.
He noted that children and young people are among the greatest victims of corruption and financial crimes and therefore deserve to be the foremost beneficiaries of recovered assets.
He added that previous recoveries have supported the establishment of the Federal University of Applied Sciences, Kachia, and provided seed funding for NELFUND, helping to expand educational opportunities for Nigerian students.
The EFCC Chairman reaffirmed the Commission’s commitment to transparency, accountability and responsible asset management, stressing that the partnership with the Federal Ministry of Education demonstrates the Federal Government’s resolve to convert proceeds of crime into opportunities that promote national development.
A major highlight of the ceremony was the signing of the Deed of Transfer, formally transferring the recovered assets to the Federal Ministry of Education. The document was executed on behalf of the Ministry by the Permanent Secretary, Mr. Abel Olumuyiwa Enitan, and the Director, Senior Secondary Education Department Mr Ibrahim Adeniyi.
The Federal Ministry of Education reaffirmed its commitment to ensuring that all recovered assets entrusted to the Ministry are transparently and efficiently deployed to strengthen educational infrastructure, improve students’ welfare and advance the Federal Government’s vision of providing accessible, equitable and globally competitive education
for every Nigerian child.
Mrs. Boriowo Folasade
Director, Press and Public Relations
