The Nigerian Education Loan Fund (NELFUND) has dismissed reports claiming that it has increased the monthly allowance for student beneficiaries.
In a statement released on Monday, the agency clarified that the approved monthly stipend remains N20,000 and has not been raised to N25,000 as widely reported.
The statement, signed by the Director of Strategic Communications, Oseyemi Oluwatuyi, emphasized that the information circulating about an increase is false.
“The approved upkeep allowance remains N20,000 (Twenty Thousand Naira) monthly, and not N25,000 as being reported.”
NELFUND also advised students to ignore unverified information and rely only on its official communication channels for accurate updates.
“Students are advised to disregard any contrary information and rely only on official NELFUND communication channels for accurate updates,” the statement added.
