NELFUND refutes claims of upkeep allowance hike, maintains N20,000 monthly payment

The Nigerian Education Loan Fund has addressed what it described as misinformation circulating about the monthly upkeep allowance for student beneficiaries under its scheme.

In a statement issued on Monday, the Fund clarified that the approved monthly stipend remains N20,000, contrary to reports suggesting an increase to N25,000.

The statement was signed by Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND “The approved upkeep allowance remains N20,000 monthly, and not N25,000 as being reported,”

NELFUND urged students to ignore unverified claims and rely strictly on its official communication platforms for accurate updates.

The organisation reaffirmed its commitment to transparency and efficiency in delivering support to beneficiaries across the country. It also expressed appreciation for the cooperation it has received from students.

“Students are advised to disregard any contrary information and rely only on official NELFUND communication channels for accurate updates.

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“The Fund appreciates the continued cooperation of students and remains committed to delivering transparent, efficient, and student-focused support nationwide,” the statement added.

For further inquiries, NELFUND directed students to contact the agency via email and its verified social media handles.

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NELFUND has disbursed more than N227bn in loans to support over 1.3million beneficiaries in tertiary institutions across the country since the programme began.