The NELFUND Beneficiaries Association Nigeria (NBAN) has spoken out to clear confusion over a rumour currently spreading among students and loan beneficiaries across the country. The rumour claims that the Nigeria Education Loan Fund (NELFUND) has increased the monthly upkeep allowance from ₦20,000 to ₦150,000.
In an official statement released on 28 December 2025, NBAN described the information as false, unconfirmed, and misleading. The association explained that, as of now, there has been no official announcement from NELFUND to support any increase in the upkeep allowance. According to NBAN, the story did not come from NELFUND and should not be treated as true.
NBAN stated that it took time to properly check the claim by reviewing NELFUND’s official website and other verified communication platforms used by the loan body. After careful checks, the association confirmed that there was no notice, circular, or update from NELFUND concerning any change to the current allowance. The group admitted that policies can be reviewed in the future, but made it clear that no such decision has been communicated at this time.
Because of this, NBAN strongly advised all NELFUND beneficiaries and students to ignore the rumour completely. The association warned against relying on screenshots, forwarded messages, voice notes, or unverified social media posts, as these often cause unnecessary excitement and disappointment. Instead, beneficiaries were encouraged to wait patiently for official updates that come directly from NELFUND through its recognised and trusted channels.
NBAN also reassured students that it remains committed to supporting NELFUND beneficiaries across Nigeria. The association said it will continue to share only accurate and verified information, and will also engage with the appropriate authorities whenever necessary to protect the interests of beneficiaries. According to the group, if there is any genuine change regarding NELFUND allowances or related policies, such information will be shared promptly through its verified platforms.
The statement was signed by Aminu Aliyu Ahmad, the National President of the NELFUND Beneficiaries Association Nigeria, on behalf of all Nigerian student loan beneficiaries.
For further enquiries, NBAN provided its contact line as +234 916 124 7589. The association also directed beneficiaries to its official social media pages for updates, including X (formerly Twitter) @NELFUND NG and Facebook page, NELFUND Beneficiaries Nigeria Association.
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