President Bola Ahmed Tinubu on Tuesday said his administration injected N100 billion recovered from the proceeds of crime into Nigeria’s Student Loan Scheme and Consumer Credit Scheme, describing both initiatives as legacy programmes aimed at boosting access to education and easing financial pressure on citizens.
Speaking while declaring open the Annual General Meeting of the Network of National Anti-Corruption Institutions in West Africa (NACIWA) in Abuja, the President said his government remains committed to using recovered funds as “instruments of social inclusion.”
Tinubu, represented by the Secretary to the Government of the Federation (SGF), Senator George Akume, reaffirmed Nigeria’s commitment to ECOWAS anti-corruption cooperation, stressing that only a united regional approach could end illicit financial flows and strengthen good governance.
“Under Nigeria’s anti-corruption strategy, we have prioritised the tracing and recovery of stolen assets and introduced new legal frameworks for asset recovery and management,” Tinubu said.
“Our administration is determined to deploy recovered funds into programmes that empower citizens, such as the Student Loan Scheme and Consumer Credit Scheme.”
The President also commended the Economic and Financial Crimes Commission (EFCC) under the leadership of Ola Olukoyede for its “prolific record in asset recovery,” urging other West African countries to share experiences and lessons from Nigeria’s anti-corruption drive.
In his remarks, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), called on ECOWAS member states to domesticate the ECOWAS Protocol on Corruption to prevent corrupt officials from finding safe havens across the region.
“Let us domesticate the ECOWAS Protocol on Corruption so that thieves find no hiding place,” Fagbemi said. “The child who says his mother will not sleep will also not sleep. So too, the corrupt who disturb the peace of nations must not find rest across borders.”
Fagbemi also proposed the creation of an ECOWAS Regional Task Force on Asset Recovery, supported by NACIWA, to enhance cross-border investigations and intelligence sharing.
He further stressed the need to ensure the independence and adequate funding of anti-corruption institutions, warning that underfunded agencies risk compromise and inefficiency.
