NELFUND dismisses reports of suspension of student upkeep allowance

The Nigerian Education Loan Fund (NELFUND) has dismissed as false reports circulating online claiming that the Federal Government has suspended students’ upkeep allowance payments under the student loan scheme.

 

In a statement issued on Thursday by its Director of Strategic Communications, Oseyemi Oluwatuyi, the Fund described the reports as fabricated and misleading.

 

According to the statement, the publications, including a fake statement allegedly issued by NELFUND and an AI-generated newspaper front page falsely linked to The Nigerian Tribune, were designed to create panic and confusion among students and stakeholders.

 

“The Nigerian Education Loan Fund wishes to categorically refute and condemn the false and misleading publications currently circulating across social media and online platforms alleging that the Federal Government has suspended students’ upkeep allowance payments under the student loan scheme.

 

“These reports, including a fabricated statement falsely attributed to NELFUND and an AI-generated newspaper front page purportedly from The Nigerian Tribune, are entirely fake, misleading, and designed to create panic, confusion, and distrust among beneficiaries and the general public,” the statement read.

 

NELFUND stressed that neither the Federal Government nor the agency had issued any directive suspending upkeep allowance payments.

 

The Fund also clarified that the viral materials did not originate from any official government or NELFUND communication platform.

 

Reaffirming its commitment to the programme, the agency said student loan and upkeep allowance disbursements would continue in line with its mandate.

 

“The Fund remains steadfast in its commitment to expanding access to higher education and supporting Nigerian students through sustainable financing initiatives,” it added.

 

NELFUND urged students, parents and the general public to disregard the false reports and rely only on verified information from its official communication channels.

 

The agency also warned against the spread of unverified content, saying misinformation could trigger unnecessary anxiety among beneficiaries.

 

Since the programme began, NELFUND said it has disbursed over N206 billion in loans to support more than 1.6 million students in tertiary institutions across Nigeria.

 

The student loan application portal was officially opened on May 24, 2024, following the enactment of the Student Loans Act by the Federal Government.

 

The scheme is aimed at helping eligible students in public tertiary institutions finance tuition fees and daily upkeep, with repayment expected after graduation and employment.