NELFUND Dismisses Fake Reports on Suspension of Student Upkeep Allowance

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 Thursday by its Director of Strategic Communications, Oseyemi Oluwatuyi, the Fund said the viral publications were fabricated to misinform the public and create unnecessary panic among students and stakeholders.

“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,” the statement said.

NELFUND stressed that no directive has been issued by either the Federal Government or the agency suspending upkeep allowance payments.

It added that the materials circulating online did not originate from any official communication channel and urged the public to disregard them entirely.

The agency also clarified that the viral newspaper image being shared on social media is not genuine.

Reaffirming its position, NELFUND said it remains committed to the continued disbursement of student loans and upkeep allowances in line with its mandate, emphasizing transparency and efficiency in the scheme.

The Fund also warned against the spread of unverified content, noting that misinformation could create unnecessary anxiety among students and parents.

It further encouraged beneficiaries and the public to rely only on verified updates from its official platforms, including its website and verified social media accounts.

NELFUND, established under the Student Loans Act, has reportedly disbursed over ₦206 billion to more than 1.6 million students since the scheme began.