Nigerian Education Loan Fund (NELFUND) has clarified reports surrounding the monthly upkeep allowance for student beneficiaries, describing claims of an increase to ₦25,000 as inaccurate.
The Fund stated that the approved monthly upkeep allowance for beneficiaries remains ₦20,000, contrary to information circulating on some platforms.
This clarification was contained in a statement issued on Monday in Abuja by the Director of Strategic Communications at NELFUND, Mrs. Oseyemi Oluwatuyi.
She urged students to ignore misleading reports and rely only on official communication channels of the Fund for updates.
According to her, “For clarity, the approved upkeep allowance remains ₦20,000 (Twenty Thousand Naira) monthly, and not ₦25,000 as being reported.”
She further advised beneficiaries and prospective applicants to be cautious of misinformation and verify any updates directly from NELFUND’s official platforms.
“The Fund appreciates the continued cooperation of students and remains committed to delivering transparent, efficient, and student-focused support nationwide,” the statement added.
NELFUND reiterated its commitment to ensuring transparency and effective delivery of financial support to students across the country while warning against the spread of unverified information regarding the student loan programme.
