NELFUND Denies Reports of Increase in Student Upkeep Allowance to ₦25,000

The Nigerian Education Loan Fund (NELFUND) has refuted reports claiming that it has increased the monthly upkeep allowance for students under its loan scheme to ₦25,000, describing the information as false and misleading.

In a statement released on Monday, NELFUND clarified that the approved monthly stipend remains ₦20,000 and urged students and the public to disregard any contrary claims.

The statement, signed by the Fund’s Director of Strategic Communications, Oseyemi Oluwatuyi, stressed that no decision has been taken to review the allowance upward, despite widespread reports suggesting an increment.

“The approved upkeep allowance remains ₦20,000 monthly, not ₦25,000 as being reported,” the Fund stated, warning against the spread of unverified information.

NELFUND advised beneficiaries to rely solely on its official communication channels for accurate updates, noting that misinformation could create confusion among students nationwide.

The agency reaffirmed its commitment to transparency, efficiency, and student-focused service delivery, while appreciating the cooperation and understanding of beneficiaries across the country.

Students seeking further clarification were encouraged to contact the Fund through its official email and verified social media platforms.