The Economic and Financial Crimes Commission (EFCC) has handed over 1,452 items recovered from proceeds of crime to the Federal Ministry of Education to support schools across Nigeria.
The items, comprising 501 double-step bunk beds, 939 mattresses and 12 wooden beds with mattresses, were presented to the Minister of Education, Tunji Alausa, by EFCC Chairman Ola Olukoyede during a ceremony held in Abuja on Tuesday, July 7.
Speaking at the event, Olukoyede said the items were recovered during “Operation Eagle Flush,” a nationwide crackdown on cybercrime and other financial crimes carried out in late 2024.
He described the exercise as the largest operation ever undertaken by the anti-graft agency, revealing that it led to the arrest of 792 suspects, including 193 foreign nationals. According to him, all the suspects were investigated, prosecuted and convicted, while the foreign nationals were deported after completing their prison sentences.
Olukoyede explained that the decision to transfer the recovered items to the education ministry reflects the Federal Government’s commitment to ensuring that assets recovered from criminal activities are redirected to projects that positively impact Nigerians.
He noted that the intervention is part of a broader effort to use recovered assets to strengthen the education sector. He recalled that a university forfeited to the Federal Government had been converted into the Federal University of Applied Sciences, Kachia, while recovered funds also contributed to the establishment of the Nigerian Education Loan Fund (NELFUND).
According to the EFCC chairman, more than 1.4 million students have already benefited from the student loan scheme, adding that expanding access to education would help reduce the appeal of cybercrime among young people.
He assured Nigerians that the commission would continue to trace, recover and transparently deploy proceeds of crime for the public good.
In his remarks, Minister of Education Tunji Alausa praised Olukoyede’s leadership of the EFCC, describing the commission’s renewed focus on tackling procurement fraud and cybercrime as a significant step in the fight against corruption.
Alausa said education remains a key pillar of President Bola Ahmed Tinubu’s economic development agenda, noting that the administration has intentionally channelled recovered assets into strengthening the country’s education system.
He disclosed that the Federal University of Applied Sciences, Kachia, enrolled about 3,000 students during its inaugural academic session and is projected to admit more than 5,000 students in its second year.
The minister also revealed that the initial N50 billion seed capital used to establish the Nigerian Education Loan Fund was sourced from recovered proceeds of crime, underscoring the government’s commitment to converting illicit assets into investments that benefit Nigerians.
