The Nigerian Education Loan Fund (NELFUND) has debunked viral claims circulating on social media suggesting that the Federal Government has halted the payment of upkeep allowances under the student loan scheme, describing the reports as false and misleading.
In a statement released on Thursday by its Director of Strategic Communications, Oseyemi Oluwatuyi, the Fund said the information being shared online was fabricated and aimed at causing unnecessary panic among students and other 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.
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According to NELFUND, no such directive has been issued by either the Federal Government or the agency regarding the suspension of upkeep payments. It also clarified that the materials circulating online did not originate from any of its official communication channels or any authorised government source.
The Fund further dismissed a viral newspaper front page being shared online, stating that it is not authentic.
Reaffirming its commitment, NELFUND stressed that it remains fully dedicated to the continuous disbursement of student loans and upkeep allowances in line with its mandate, while maintaining transparency and efficiency in its operations.
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It urged students, parents, and the general public to disregard the false reports and rely only on verified updates released through its official platforms.
NELFUND also warned against the spread of unverified information, noting that such misinformation only fuels confusion and anxiety among beneficiaries nationwide.
“The Fund remains steadfast in its commitment to expanding access to higher education and supporting Nigerian students through sustainable financing initiatives,” it added.
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For inquiries and authentic updates, the agency directed the public to its official email address info@nelf.gov.ng and verified social media accounts on X (@nelfund), Instagram (@nelfund), Facebook, and LinkedIn under Nigerian Education Loan Fund – NELFUND.
Since the launch of the scheme, NELFUND has disbursed over N206bn in loans to more than 1.6 million students across tertiary institutions in Nigeria. The application portal for the programme was opened on May 24, 2024.
Established by the Federal Government following the enactment of the Student Loans Act, the initiative is designed to support eligible students in public tertiary institutions with tuition and upkeep support, especially those facing financial challenges.
Under the scheme, beneficiaries are expected to begin repayment only after completing their studies and securing employment, ensuring that students are not burdened while still in school.
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