The Nigerian Education Loan Fund (NELFUND) has dismissed viral reports claiming that the Federal Government suspended students’ upkeep allowance payments under the student loan scheme, insisting that disbursements remain ongoing nationwide.
The clarification comes after social media posts and manipulated online publications triggered anxiety among students and parents over the status of the upkeep component attached to the federal student loan initiative.
In a statement issued on Thursday by its Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, NELFUND described the reports as “false, misleading and fabricated.”
READ ALSO
According to the agency, some of the circulating materials included a fake statement wrongly attributed to the fund as well as an AI-generated newspaper front page falsely linked to Nigerian Tribune.
“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,” the statement said.
“These reports are entirely fake, misleading, and designed to create panic, confusion, and distrust among beneficiaries and the general public.”
NELFUND stressed that neither the Federal Government nor the agency had issued any directive suspending upkeep allowance payments to students benefiting from the scheme.
It also clarified that the viral contents did not originate from any official government platform or verified communication channel connected to the fund.
The development followed growing concerns among students in tertiary institutions after screenshots and social media graphics suggesting a suspension of monthly upkeep payments began circulating online earlier this week.
The student loan programme, which officially commenced in May 2024 following the signing of the Student Loans Act by President Bola Tinubu, provides financial support for tuition and living expenses to eligible students in public tertiary institutions.
Under the arrangement, beneficiaries are expected to begin repayment only after graduation and upon securing employment.
NELFUND said the programme remains active and that the agency is committed to ensuring transparent and efficient disbursement processes.
“No directive has been issued by the Federal Government or NELFUND regarding the suspension of upkeep allowances,” the statement added.
The fund urged students, parents and the public to disregard unverified reports capable of creating unnecessary panic across campuses.
It also warned against the spread of misinformation online, especially through manipulated graphics and unofficial publications designed to mislead beneficiaries.
“The Fund remains steadfast in its commitment to expanding access to higher education and supporting Nigerian students through sustainable financing initiatives,” Oluwatuyi stated.
Since the launch of the initiative, NELFUND has disclosed that over N206 billion has been disbursed to support more than 1.6 million students across tertiary institutions nationwide.
The programme is regarded as one of the flagship education financing reforms introduced by the Tinubu administration amid rising tuition costs and worsening economic pressure on households.
Education stakeholders have repeatedly called for transparency and consistency in the implementation of the loan scheme, especially concerning upkeep payments, verification procedures and institutional compliance.
The latest clarification from NELFUND is expected to calm fears among beneficiaries who had expressed concerns online over possible disruptions to their allowances.
