The Nigerian Education Loan Fund has firmly dismissed the swirling online speculation claiming that the Federal Government halted students’ upkeep disbursements under the national student loan initiative.
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In an official clarification released by the agency’s Director of Strategic Communications, Oseyemi Oluwatuyi, the organisation branded the circulating reports as fictitious, deceptive, and deliberately orchestrated to trigger apprehension among students, guardians, and educational stakeholders nationwide.
According to the statement, several fabricated materials have been spreading rapidly across social media corridors, including a counterfeit press release falsely linked to NELFUND as well as an AI-manipulated newspaper front page allegedly attributed to The Nigerian Tribune. The agency stressed that none of the materials originated from any recognised government communication outlet.
“The Nigerian Education Loan Fund unequivocally condemns the falsehood currently making the rounds online alleging the suspension of students’ upkeep allowances. These publications are entirely fraudulent and intentionally crafted to sow uncertainty, confusion, and mistrust among beneficiaries and the broader public,” the statement declared.
NELFUND reiterated that no instruction, directive, or policy adjustment concerning the discontinuation of upkeep allowances has been issued either by the Federal Government or the fund itself. The agency maintained that all approved student support payments remain operational in alignment with the scheme’s established framework.
The institution further cautioned Nigerians against the reckless circulation of unverified digital content, warning that such misinformation deepens unnecessary anxiety among students and parents already navigating financial pressures tied to higher education.
Addressing the viral newspaper graphic circulating online, the fund clarified that the image was entirely fabricated and bears no legitimacy whatsoever.
Despite the misleading narratives, NELFUND reaffirmed its enduring commitment to widening educational accessibility through sustainable financial intervention programmes tailored for students in public tertiary institutions across the country.
The organisation encouraged members of the public to rely solely on its verified communication platforms and official contact channels whenever seeking clarification regarding loan disbursements or policy updates.
Since the commencement of the programme, NELFUND has reportedly released over N206 billion in financial support, benefitting more than 1.6 million students enrolled in tertiary institutions nationwide.
The student loan application portal officially became operational on May 24, 2024, following the enactment of the Student Loans Act by the Federal Government. The initiative was conceived to cushion the financial strain confronting students who struggle to fund tuition fees and daily academic expenses.
Under the repayment structure guiding the programme, beneficiaries are expected to commence repayment only after completing their education and securing gainful employment. The arrangement was intentionally designed to prevent students from facing repayment burdens before attaining financial stability.
Reinforcing its position once again, NELFUND stated that the continuous disbursement of loans and upkeep allowances remains a core obligation under its mandate. The agency underscored its dedication to transparency, accountability, and operational efficiency while urging Nigerians to disregard sensational but unsubstantiated reports circulating online.
As misinformation continues to proliferate within digital spaces, the fund appealed for collective responsibility in verifying information before dissemination, noting that false narratives can erode public confidence in programmes intended to support educational advancement and social mobility.
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