NELFUND Discards ‘Fake’ Suspension Notice,Pledges Uninterrupted Loan Payouts

ABUJA – The Nigerian Education Loan Fund (NELFUND) has issued a strong rebuttal against a viral document claiming the suspension of the federal student loan scheme. Describing the circular as “fake,” the agency reassured the public that its disbursement operations remain fully active and uninterrupted.

​In a statement released via its official X (formerly Twitter) handle on Saturday, NELFUND urged students, parents, and higher institutions to disregard the fraudulent notice, which cited “unforeseen operational circumstances” as the reason for a supposed temporary pause.

​”This document is fake. Kindly disregard the circulating letter on the suspension of student loan disbursements,” the agency stated. “NELFUND has not issued any such directive. We advise all stakeholders to rely solely on our official communication channels for verified updates.”

​Rising Success Amidst Misinformation

​The attempt to disrupt the scheme comes at a time of significant growth for the initiative. According to the latest figures from the Federal Ministry of Education, the fund has now disbursed over N206 billion to approximately 1.16 million students across 270 tertiary institutions nationwide.

​The program, a cornerstone of President Bola Ahmed Tinubu’s administration, was designed to ensure that no Nigerian student is forced to drop out due to financial constraints. Beyond tuition fees, the fund has already allocated approximately N128.45 billion specifically for student upkeep allowances, providing a vital cushion against the rising cost of living.

ADVERTISEMENT

​Ongoing Support and Extensions

​The debunked rumor follows recent efforts by NELFUND to expand its reach. Just weeks ago, the agency announced further extensions for the 2025/2026 academic session application portal to accommodate students from institutions that recently adjusted their academic calendars.

​Management also recently cautioned applicants against using microfinance bank “wallets” for upkeep disbursements, recommending traditional commercial bank accounts to ensure the seamless receipt of funds.

​Government representatives highlighted that the scheme’s impact extends beyond direct loans, noting that over 160,000 youths have also benefitted from integrated digital skills training programs aimed at boosting post-graduation employability.

​Students who have already submitted their applications are encouraged to monitor their status via the official portal at portal.nelf.gov.ng and remain vigilant against phishing attempts and social media misinformation.