NELFUND dismisses fake notice on suspension of upkeep allowance, says payments continuing
By Aboki Forex —
The Nigerian Education Loan Fund (NELFUND) has dismissed as fake a viral social media document claiming the Federal Government suspended upkeep allowance payments to Student Loan Scheme beneficiaries for the 2025/2026 academic session. The denial comes as hundreds of students have complained in recent weeks about delays in receiving their monthly stipends.
Fake document circulated online
According to the News Agency of Nigeria, NELFUND issued a statement on Saturday saying the document, dated July 10 and attributed to its Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, did not originate from the Fund. The agency said neither the Federal Government nor NELFUND had approved or announced any suspension of upkeep allowance payments to eligible beneficiaries.
“The document being circulated is fake and did not emanate from NELFUND. Beneficiaries and the general public should disregard the misinformation and rely only on NELFUND’s official communication channels for authentic updates,” it added.
The fake notice had claimed that funds for upkeep allowances for May, June and subsequent months had not been released, describing the suspension as temporary and promising that disbursements would resume once outstanding allocations were received.
Students report months of delays
Despite NELFUND’s assurance that both student loan and upkeep allowance disbursements are continuing, many beneficiaries have raised concerns over delays in receiving the approved monthly upkeep allowance. The monthly upkeep is optional and only provided to students who specifically apply for it alongside the institutional tuition loan during registration.
Reacting to a Nairametrics report on NELFUND’s plans to replace direct school payments with a digital token system, several affected students shared their frustrations directly.
“When will we, the students, start to receive upkeep allowance for May and June? A lot of Nigerian students need this money, most especially me, now. Students are going for SIWES, and they need this money to be able to attend this compulsory student industrial scheme,” said Favour Ojochenemi.
A parent, Modupeola Adeola Idowu, who identified herself as a widow, also lamented about the non-payment of the allowance, while expressing fears that the tuition payment might also be stopped. “My child has not received the monthly upkeep since May. For the last two months, it has affected us badly,” she said.
“For the past three months we haven’t received our upkeep and everyone knows this is a loan. So how are we going to pay for what we haven’t been given?” said Alex Bless, calling on NELFUND’s president to address the complaint.
Fund warns against AI-generated misinformation
NELFUND said fabricated publications and AI-generated content are increasingly being deployed to spread misinformation and undermine public confidence in the student loan programme. It advised students, parents, tertiary institutions and members of the public to verify information relating to the scheme through its official communication channels before sharing or acting on such information.
Earlier this month, Nairametrics reported that NELFUND announced plans to transition from its current direct tuition payment model to a digital token-based payment system. According to NELFUND Managing Director, Akintunde Sawyerr, the digital token system will allow students to have more control over the timing of their tuition payments while ensuring that loan funds are used strictly for educational expenses. The proposed system is designed to reduce cases of double payments, strengthen transparency, and improve efficiency in the management of student loan disbursements.
For Nigerian students and families relying on the loan scheme to fund education, the continued delays in upkeep payments raise questions about the operational capacity of the Fund, even as it denies any official suspension. With many students saying they have not received allowances for two to three months, pressure is mounting on NELFUND to resolve the disbursement bottlenecks.