EFCC Lacks Power to Channel Recovered Loot to Student Loan – PDP Chieftain

A chieftain of the Peoples Democratic Party, Silas Onu, has criticized the Economic and Financial Crimes Commission for donating ₦50 billion recovered loot to the Nigerian Education Loan Fund.

Onu argued that EFCC lacks the power to appropriate Nigeria’s money recovered from fraudulent persons and that all monies must be sent to the Federation Account and appropriated by the National Assembly.

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“The singular act by EFCC is also a financial crime. All monies must be sent to the Federation Account and appropriated by the National Assembly, not EFCC. NELFUND should not touch a penny of that sum until this question is resolved,” Onu said.

The EFCC had disclosed on its website that NELFUND’s Director and Chief Executive Officer, Mr. Akintunde Sawyerr, led his team to the commission’s headquarters in Abuja to express gratitude for the ₦50 billion donation.

However, Onu maintained that the donation was illegal and that NELFUND should not use the funds until the matter is resolved.