By Ngozi Nwankwo
President Bola Tinubu is redirecting proceeds of crime into investments that improve student welfare, strengthen educational infrastructure and expand access to quality education, the Minister of Education, Dr. Tunji Alausa, has said.
Alausa stated this recently in Abuja during the handover of recovered assets by the Economic and Financial Crimes Commission, EFCC, to the Federal Ministry of Education.
The assets handed over include 501 double-decker bed frames, 939 mattresses and 12 wooden beds with mattresses.
The minister said the asset recovery programme demonstrates the administration’s commitment to channelling resources recovered from criminal activities into projects that directly benefit Nigerians, especially children and young people.
According to him, education remains central to the President’s vision of building a one-trillion-dollar economy through sustained investment in human capital development.
“Converting recovered assets into educational resources reflects a deliberate policy of transforming the proceeds of crime into opportunities that improve learning outcomes and secure a brighter future for Nigerian students,” he said.
Alausa cited the conversion of a forfeited university facility into the Federal University of Applied Sciences, Kachia, as another example.
He said the institution has enrolled more than 3,000 students in programmes covering applied sciences, engineering, nursing and health sciences.
The Minister added that the newly recovered assets would improve accommodation and welfare for students in colleges and other institutions nationwide, and assured that distribution to Unity Schools across the country would be transparent and equitable.
EFCC Chairman, Mr. Ola Olukoyede, said the assets were recovered during Operation Eagle Flush one of the Commission’s largest cybercrime operations conducted towards the end of 2024.
He said about 792 suspects, including foreign nationals, were arrested, investigated, prosecuted, convicted and repatriated after serving their prison terms.
Olukoyede said the restitution aligns with the Proceeds of Crime Act and government’s commitment to transparent deployment of recovered assets for national development.
He noted that children and young people are among the greatest victims of corruption, making it appropriate for them to benefit from recovered assets.
The EFCC chairman also highlighted previous education sector interventions, including the transfer of the forfeited facility now housing the Federal University of Applied Sciences, Kachia, and the deployment of recovered proceeds as seed funding for the Nigerian Education Loan Fund, NELFUND.
He said about 1.4 million students have benefited from the loan scheme through tuition support and monthly upkeep allowances.
The handover was formalised with the signing of a Deed of Release by representatives of the EFCC and the ministry, including Permanent Secretary, Mr. Abel Olumuyiwa Enitan.
