President Bola Tinubu on Wednesday directed that all liquid funds recovered by the Economic and Financial Crimes Commission, along with unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund, be diverted to the Nigerian Education Loan Fund to guarantee its long-term financial sustainability.

Minister of Education, Dr Tunji Alausa, disclosed this while briefing State House correspondents after the Federal Executive Council meeting presided over by Tinubu at the Presidential Villa, Abuja, on Wednesday.

The meeting is the council’s first sitting since June 29.

Unclaimed dividends in Nigeria currently stand at approximately N242bn, according to the Securities and Exchange Commission, having grown steadily from about N158.4bn in 2019 to N190bn in 2023 due to outdated shareholder records, unresolved estate matters for deceased investors, and missing bank account linkages, among other factors.

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