The Nigerian Education Loan Fund (NELFUND) has dismissed reports claiming that student beneficiaries will receive ₦25,000 as monthly upkeep allowance, stating that the approved amount remains ₦20,000.
In a statement issued on Monday in Abuja, the Fund said it had observed the circulation of misleading information regarding the allowance, urging students and the public to rely only on its official communication channels for accurate updates.
NELFUND clarified that the currently approved upkeep allowance is ₦20,000 monthly, contrary to widely shared claims suggesting an increase to ₦25,000. It emphasised that no such increment has been approved.
The agency advised beneficiaries to disregard any contrary information, noting that misinformation could create confusion among students relying on the scheme for financial support.
“The Nigerian Education Loan Fund has noted misinformation circulating regarding the monthly upkeep allowance for student beneficiaries. For clarity, the approved upkeep allowance remains ₦20,000 monthly, and not ₦25,000 as being reported,” the statement read.
NELFUND reiterated its commitment to transparency and efficient service delivery, assuring stakeholders that it would continue to provide timely and accurate information concerning its programmes.
It also appreciated the cooperation of students nationwide and reaffirmed its dedication to supporting access to higher education through structured financial assistance.
The Fund further encouraged students seeking clarification or assistance to contact its official channels, including email and verified social media platforms.
The statement was signed by the Director of Strategic Communications, Mrs Oseyemi Oluwatuyi.