The Nigerian Education Loan Fund (NELFUND) has clarified that the approved monthly upkeep allowance for student beneficiaries remains ₦20,000, dismissing reports suggesting an increase to ₦25,000.
In a statement issued on Monday in Abuja, the Fund said it had observed the circulation of misleading information regarding the allowance paid to students under its scheme.
According to NELFUND, the correct and approved amount is ₦20,000 monthly, stressing that any contrary figure being reported is inaccurate.
“Students are advised to disregard any contrary information and rely only on official NELFUND communication channels for accurate updates,” the statement read.
The Fund reiterated its commitment to delivering transparent, efficient, and student-focused support to beneficiaries across the country, while appreciating students for their continued cooperation.
NELFUND also encouraged students and stakeholders to seek clarification through its official communication platforms, including its website and verified social media handles.
The clarification comes amid growing public interest in the student loan scheme, which is designed to expand access to higher education and ease financial burdens on Nigerian students.
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