Presidential candidate of the Social Democratic Party (SDP), Adewole Adebayo, has questioned the Federal Government’s handling of funds recovered by the Economic and Financial Crimes Commission (EFCC), insisting that such monies must be subjected to proper appropriation and legislative oversight.
Adebayo spoke during an interview with Symfoni TV on Wednesday, August 26, 2026, where he raised concerns over the process through which recovered public funds are allocated to government programmes.
He alleged that President Bola Ahmed Tinubu had directed the EFCC to channel recovered funds into the Nigerian Education Loan Fund (NELFUND).
“Tinubu told the EFCC that whatever money you recover, go and put it in NELFUND,” Adebayo said.
He argued that recovered funds should first be paid into the government’s designated central account before being appropriated for specific purposes.
According to him, any decision to deploy the funds to NELFUND should be presented to the National Assembly for approval.
Adebayo said lawmakers had a constitutional responsibility to determine how recovered resources should be spent, including whether they should fund student loans, compensate victims of financial crimes or support other public programmes.
He clarified that his position was not against using recovered funds to support student financing but against bypassing established public finance procedures.
The SDP candidate said transparency and accountability in the management of recovered funds were essential to preventing arbitrary spending and ensuring that such resources were used in the public interest.
