The Nigerian Education Loan Fund (NELFUND) has addressed reports circulating online about the monthly upkeep allowance given to students under its loan program.
According to the Fund, some information currently being shared is incorrect, particularly claims that the monthly allowance has been increased to ₦25,000.
Approved Monthly Allowance Remains ₦20,000
NELFUND explained that the approved upkeep allowance for student beneficiaries is still ₦20,000 per month. The Fund stated clearly that there has been no official change to ₦25,000, contrary to what some reports and messages have suggested.
Students who are part of the program are therefore advised to ignore any information that contradicts the official figure.
Students Urged to Follow Official Channels
The Fund encouraged students to always rely on verified communication channels of the Nigerian Education Loan Fund when seeking updates about the loan programme. This will help prevent confusion caused by rumours or unverified announcements.
Commitment to Transparency
NELFUND also expressed appreciation to students for their patience and cooperation. The organization reaffirmed its commitment to providing transparent, efficient, and student-focused financial support to students across Nigeria.
The Fund noted that it will continue to share accurate information and updates through its official platforms to ensure that beneficiaries remain properly informed.
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