NELFUND denies claims of upkeep allowance increase

The Nigerian Education Loan Fund (NELFUND) has debunked circulating rumors regarding a purported increase in the monthly upkeep allowance for student beneficiaries.

In a statement released on Monday, the Fund emphasized that the approved monthly stipend remains ₦20,000, contrary to unofficial reports suggesting an upward review to ₦25,000.

Expressing concern over the spread of misinformation, the Fund’s Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, urged students to disregard any data originating from non-official sources.

The management reiterated that the ₦20,000 figure is the only government-approved amount currently being disbursed to aid student living expenses.

NELFUND reaffirmed its dedication to maintaining a transparent and student-focused support system throughout the federation.

To prevent further confusion, the management advised all beneficiaries to rely exclusively on verified NELFUND communication channels, including its official website and social media platforms, for accurate updates on loan disbursement and welfare packages.

The Fund also encouraged students seeking additional assistance or specific inquiries to reach out via its official correspondence channels, noting its ongoing commitment to the efficient delivery of higher education financial support.