EFCC Redirecting Recoveries To Fund Student Loans, National Assets, Commendable –Uyi

The president of Global Peace Movement International (GPMI),  Dr Mike Uyi, has commended the chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, for ensuring that proceeds recovered from corruption are redirected towards national development.

Uyi’s commendation followed President Bola Tinubu’s directive that liquid funds recovered by the EFCC be channelled into the Nigerian Education Loan Fund (NELFUND) to support the education of young Nigerians and strengthen the country’s human capital development.

The federal government is also investing recovered funds in the Nigerian Consumer Credit Corporation (CREDICORP), a move Uyi described as a strategic investment in Nigeria’s future.

According to him, the decision demonstrates that the fight against corruption should go beyond arrests, prosecutions and convictions to ensuring that recovered resources translate into tangible benefits for citizens.

Uyi said Olukoyede’s leadership had helped to give the anti-corruption campaign a stronger developmental dimension by connecting asset recovery with social investment.

He cited the forfeiture of 48 properties linked to former Attorney-General of the Federation, Abubakar Malami, as one of the significant outcomes of the EFCC’s asset recovery efforts.

A Federal High Court in Abuja had in July 2026 ordered the forfeiture of the properties after holding that the respondents failed to dislodge the EFCC’s case that the assets were acquired through proceeds of unlawful activities.

Uyi also pointed to the Supreme Court’s affirmation in July 2026 of the final forfeiture of seven high-value properties, $2.045 million and share certificates linked to former Central Bank of Nigeria Governor, Godwin Emefiele.

He said the development reinforced the principle that public office or social status should not shield anyone from accountability.

“There is something particularly significant about taking money or assets recovered from crime and using them to educate young Nigerians. It means that what was taken away from society through corruption is being returned to society in the form of opportunity,” Uyi said.

He added, “This is where I believe Olukoyede’s leadership deserves special commendation. He has helped to demonstrate that the success of an anti-corruption agency should not be measured only by the number of people arrested or convicted, but also by what happens to the resources recovered.”