{"id":1839,"date":"2026-08-20T09:55:51","date_gmt":"2026-08-20T09:55:51","guid":{"rendered":"https:\/\/kufmtv.net\/?p=1839"},"modified":"2026-08-20T09:55:51","modified_gmt":"2026-08-20T09:55:51","slug":"president-tinubu-approves-n242bn-unclaimed-dividends","status":"publish","type":"post","link":"https:\/\/kufmtv.net\/index.php\/2026\/08\/20\/president-tinubu-approves-n242bn-unclaimed-dividends\/","title":{"rendered":"PRESIDENT TINUBU APPROVES N242bn UNCLAIMED DIVIDENDS"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

President Bola Tinubu has approved the diversion of unclaimed dividends of about N242 billion naira as well as funds recovered from financial crimes to fund the Nigeria Education Loan Fund (NELFund).<\/p>\n\n\n\n

The Minister of Education, Tunji Alausa, disclosed this on Wednesday while briefing State House correspondents after a meeting of the Federal Executive Council (FEC), presided over by President Tinubu at the Presidential Villa, Abuja.<\/p>\n\n\n\n

Alausa said the President had directed the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, to work with the Ministry of Education to remove all legal and administrative bottlenecks that could hinder the implementation of the policy.<\/p>\n\n\n\n

According to him, the directive is part of efforts to strengthen funding for the student loan scheme and ensure sustainable access to higher education financing.<\/p>\n\n\n\n

According to figures from the Securities and Exchange Commission (SEC)Nigeria\u2019s unclaimed dividends have risen to about N242 billion.<\/p>\n\n\n\n

The amount has grown steadily from about N158.4 billion naira in 2019 to N190 billion naira in 2023, largely due to outdated shareholder records, difficulties in managing estates of deceased shareholders and the absence of linked bank account details, among other factors.<\/p>\n\n\n\n

Alausa clarified that the directive concerning EFCC recoveries applies only to cash recovered by the anti-graft agency and does not include recovered physical assets.<\/p>\n\n\n\n

Meanwhile, the EFCC has so far recovered more than N566 billion naira and $411 million dollar in monetary assets.<\/p>\n\n\n\n

The minister said the decision would provide additional resources for NELFund and support the Federal Government\u2019s drive to expand access to tertiary education.<\/p>\n","protected":false},"excerpt":{"rendered":"

President Bola Tinubu has approved the diversion of unclaimed dividends of about N242 billion naira as well as funds recovered […]<\/p>\n","protected":false},"author":2,"featured_media":1840,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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Bola Tinubu has approved the diversion of unclaimed dividends of about N242 billion naira as well as funds recovered 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