The Nigerian Education Loan Fund has dismissed as false and misleading circulating online reports alleging 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 publications circulating on social media as fabricated and intended to misinform the public and create 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,” the statement read.
“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.”
NELFUND stressed that no directive has been issued by the Federal Government or the Fund regarding the suspension of upkeep allowances. It further clarified that the circulating materials did not originate from any official channel of the Fund or any authorised government communication platform. The agency also addressed the viral newspaper image being shared online, stating that it is not genuine.
Reaffirming its position, the Fund said it remains committed to the continued disbursement of student loans and upkeep allowances in line with its mandate, emphasising transparency and efficiency in its operations.
Beneficiaries, stakeholders, and members of the public were urged to disregard the false reports and rely strictly on verified information issued through official communication channels.
NELFUND also cautioned against the spread of unverified content, warning that such actions contribute to misinformation and unnecessary anxiety among students and parents across the country.
“The Fund remains steadfast in its commitment to expanding access to higher education and supporting Nigerian students through sustainable financing initiatives,” it added.
NELFUND has released more than N206 billion in loans to support over 1.6 million students in tertiary institutions across the country since the programme began. It opened its loan application portal on May 24, 2024.
The Fund was set up by the Federal Government following the enactment of the Student Loans Act. The initiative is designed to assist eligible students in public tertiary institutions with funds for tuition and daily expenses, particularly those who may struggle to finance their education. Under the scheme, beneficiaries are expected to begin repayment after completing their studies and securing employment.
