The Chairman Economic and Financial Crimes Commission (EFCC) Mr Ola Olukoyede has handed over 1 452 hostel items recovered from cybercrime to the Federal Ministry of Education.
Olukoyede who handed the items to the Minister of Education, Dr Tunji Alausa, on Tuesday in Abuja, said they were recovered during a major anti-cybercrime operation in 2024.
According to him, the items comprise 501 double-step bunk beds, 939 mattresses, and 12 wooden beds with mattresses recovered during a special operation code-named ‘operation Eagle Flush
Olukoyede also said that the handover was in line with the Federal Government’s policy of deploying proceeds of crime to critical social sectors.
While explaining that the assets were recovered under Operation Eco-Forge, he described it as the single largest cybercrime operation involving the education sector.
According to him, about 792 suspects were arrested during the operation including 193 foreign nationals.
”All the suspects were investigated, prosecuted and convicted, while the foreign nationals were repatriated after serving their jail terms.”
The EFCC chairman said the decision to hand over the recovered items to the education sector was deliberate.
“Children and youth remain the greatest victims of corruption and financial crimes and should therefore be the first to benefit from recoveries.
“President Bola Tinubu made this decision fully conscious of the fact that investing recovered assets in education will secure the future of our young people.
”This is not the first time proceeds of crime are being deployed to education.
”Last year, a forfeited university facility was handed over to the ministry of education and now operates as the Federal University of Applied Sciences, Kachia in Kaduna State,” he said.
Olukoyede also cited the Student Loan Fund as another beneficiary of recovered assets.
He said part of the fund was sourced from proceeds of crime recovered by the EFCC under the provisions of the Proceeds of Crime Act.
The EFCC boss disclosed that over 1.4 million students had so far benefited from the loan scheme.
He added that the support covered tuition and monthly stipends, giving many young Nigerians who could not afford school the opportunity to study.
He linked the intervention to crime prevention, noting that financial pressure pushed many students into cybercrime.
“We discovered that most of these students go into financial crimes because they cannot afford to pay their school fees, yet they genuinely want to be educated,” he said.
Olukoyede added that the latest handover would further improve infrastructure and facilities in secondary and tertiary institutions.
He also said that the commission would continue to work with the ministry to ensure the assets were properly utilised.
The Minister of Education, who received the items on behalf of the Federal Government, commended the EFCC for the recovery efforts.
He pledged that the assets would be deployed to areas of greatest need, especially unity schools across the country to improve learning conditions for students.
Alausa described the education sector as the biggest beneficiary of proceeds of crime under the Tinubu’s administration.
He commended the EFCC under Olukoyede, stressing that the commission now operated within the rule of law and upheld the highest professional standards.
He noted that the EFCC had shifted to proactive anti-corruption, especially in procurement fraud, commending its aggressive crackdown on cybercrime, which he said had become a major threat to Nigerian youths.
The minister said that Tinubu was deploying proceeds of crime to fund education to drive his one trillion dollars economy agenda, stressing that investing in the youth education remained central to national development and growth.
While citing the Federal University of Applied Sciences, Kachia, as a proceed of crimes, he added that nearly 3,000 students were admitted in year one, with 5,000 projected for year two in sciences and health courses.
He also linked EFCC recoveries to NELFUND, saying the first N50 billion came from the commission.
”Over 1.4 million students now benefit from loans for tuition and upkeep nationwide,” he revealed.
Alausa thanked President Tinubu and the EFCC for prioritising Nigerian children.
He pledged the ministry’s commitment to quality education and supporting initiatives that advance education and national progress.
NAN
