he Nigerian Education Loan Fund (NELFUND) has dismissed reports claiming that the Federal Government suspended upkeep allowance payments under the student loan scheme, describing the publications as false and misleading.
In a statement issued on Friday by its Director of Strategic Communications, Oseyemi Oluwatuyi, the agency said the reports circulating across social media platforms were fabricated and aimed at causing 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 said.
NELFUND added that some of the materials being shared online included a fake statement allegedly issued by the agency and an AI-generated newspaper front page falsely linked to The Nigerian Tribune.
“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,” it added.
The agency stressed that neither the Federal Government nor NELFUND had issued any directive suspending upkeep allowances for beneficiaries of the scheme.
“No directive has been issued by the Federal Government or NELFUND regarding the suspension of upkeep allowances,” the statement said.
NELFUND also clarified that the viral publications did not originate from any of its official communication channels or any authorised government platform.
The fund urged students, parents and members of the public to ignore the reports and rely only on verified information released through its official channels.
It warned against the spread of unverified content online, saying misinformation could create unnecessary anxiety among beneficiaries and their families.
Reaffirming its commitment to the programme, the agency said it would continue the disbursement of student loans and upkeep allowances in line with its mandate.
“The fund remains steadfast in its commitment to expanding access to higher education and supporting Nigerian students through sustainable financing initiatives,” it stated.
NELFUND said more than N206bn had been disbursed to over 1.6 million students in tertiary institutions since the launch of the scheme.
The student loan programme was established following the enactment of the Student Loans Act to support eligible students in public tertiary institutions with tuition fees and living expenses.
Under the arrangement, beneficiaries are expected to begin repayment after graduation and securing employment, a structure designed to ensure the sustainability of the scheme while reducing financial pressure on students.
