NELFUND Denies Increase in Student Upkeep Allowance

The Nigerian Education Loan Fund has debunked claims suggesting an increase in the monthly upkeep allowance for student beneficiaries.

In a statement issued on Monday, the fund clarified that the approved stipend remains ₦20,000, contrary to widespread reports claiming it had been raised to ₦25,000.

The statement, signed by the Director of Strategic Communications, Oseyemi Oluwatuyi, emphasized that no adjustment has been made to the allowance.

“The approved upkeep allowance remains ₦20,000 (Twenty Thousand Naira) monthly, and not ₦25,000 as being reported,” the statement read.

NELFUND urged students to disregard unverified information and rely solely on its official communication platforms for accurate updates.

The fund reaffirmed its commitment to transparency and proper dissemination of information regarding student support initiatives.