The Nigerian Education Loan Fund (NELFUND) has moved to clear the air regarding the monthly upkeep allowance for student beneficiaries, following widespread misinformation suggesting a recent increase.
In an official statement released on Monday, March 30, 2026, the Fund clarified that the approved monthly stipend remains ₦20,000, refuting viral reports that claimed the amount had been hiked to ₦25,000.
Mrs. Oseyemi Oluwatuyi, NELFUND’s Director of Strategic Communications, emphasized the agency’s dedication to transparency and its “student-focused” mission. She noted that the clarification was necessary to ensure students have accurate expectations regarding their financial support.
“The Fund appreciates the continued cooperation of students and remains committed to delivering transparent, efficient, and student-focused support nationwide,” the statement read.
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