The Nigerian Education Loan Fund has debunked reports claiming that the Federal Government suspended the payment of upkeep allowances for students benefiting from the loan scheme.
In a statement issued on Thursday by the Director of Strategic Communications, Oseyemi Oluwatuyi, the agency described the reports circulating online as fake and misleading.
According to NELFUND, the false publications, including a statement wrongly linked to the agency and an AI-generated newspaper front page allegedly from The Nigerian Tribune, were created to spread fear and confusion among students and the public.
“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.
“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,” the statement read.
The Fund stressed that no announcement had been made by either the Federal Government or NELFUND regarding the suspension of student upkeep allowances.
It added that the viral materials did not originate from any official government or agency platform, while also dismissing the newspaper image being circulated online as fake.
NELFUND reaffirmed that it remains committed to the continuous payment of student loans and upkeep support in line with its mandate.
The agency advised students, parents and stakeholders to ignore the reports and rely only on verified information from its official communication channels.
It also warned against spreading unverified information online, noting that such actions only create panic and misinformation among Nigerians.
“The Fund remains steadfast in its commitment to expanding access to higher education and supporting Nigerian students through sustainable financing initiatives,” it added.
NELFUND disclosed that more than N206bn had been disbursed to over 1.6 million students in tertiary institutions since the scheme began.
The student loan portal was launched on May 24, 2024, after the enactment of the Student Loans Act by the Federal Government.
The programme was introduced to help students in public tertiary institutions cover tuition fees and living expenses, especially those facing financial difficulties.
Beneficiaries are expected to begin repayment after graduation and once they secure employment, a structure aimed at ensuring the sustainability of the scheme.
