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 by its Director of Strategic Communications, Oseyemi Oluwatuyi, the fund described the publications currently making rounds 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.
“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 “No directive has been issued by the Federal Government or NELFUND 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 remained 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.
It directed the public to its official contact channels and its verified social media platforms to confirm any report from the fund.
NELFUND has released more than N206bn 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 was 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.
The arrangement is intended to make the programme sustainable while ensuring that students are not burdened with repayments before they are financially stable.
