The Nigerian Education Loan Fund (NELFUND) has dismissed viral claims suggesting that student upkeep allowances under its scheme have been suspended, describing the reports as false and misleading.

In a statement released by the agency, NELFUND condemned the circulation of what it described as a fabricated newspaper front page and fake letter alleging that upkeep payments had been stopped.

NELFUND Rejects Viral Claims

According to the agency, the documents being circulated online were completely fake and did not originate from the Fund.

NELFUND also disclosed that The Nigerian Tribune, whose name and identity were allegedly used in the fake publication, confirmed that the front page was fabricated.

The agency urged students and members of the public to disregard the reports and rely only on verified communication channels for official updates.

₦20,000 Monthly Stipend Still Active

NELFUND currently provides interest-free loans to eligible Nigerian tertiary institution students, including a monthly upkeep allowance of ₦20,000.

The Fund stated that the programme remains active and continues to support students across the country despite the false reports circulating online.

According to the agency, more than 1.5 million Nigerian students are currently benefiting from the scheme nationwide.

Agency Confirms ₦98 Billion Disbursement

The Fund further disclosed that it has continued to process and disburse payments to beneficiaries, with recent disbursements reportedly exceeding ₦98 billion.

NELFUND admitted that some students may experience delays due to technical and processing challenges but insisted that applications and payments have not been suspended.

The agency appealed to students to remain patient while efforts continue to resolve outstanding technical issues affecting some beneficiaries.

Students Asked To Follow Official Channels

NELFUND advised students awaiting payments or updates to continue monitoring its official portal and verified communication platforms for accurate information.

The agency also warned against spreading unverified reports capable of causing confusion among applicants and beneficiaries.

The controversy comes amid growing public attention on Nigeria’s student loan scheme, which was introduced to improve access to higher education financing for students across tertiary institutions.