FG has not suspended student upkeep payments, says NELFUND

…says N282bn disbursed so far

The Nigerian Education Loan Fund (NELFUND) has dismissed reports claiming that the Federal Government has suspended upkeep allowance payments under the student loan scheme, describing the publications circulating online as false, misleading, and designed to cause panic among beneficiaries.

In a statement signed by Oseyemi Oluwatuyi, director of Strategic Communications, on Thursday, NELFUND said the reports, including a purported newspaper front page and a statement falsely attributed to the agency, did not originate from the Fund or any authorised government channel.

According to the Fund, the viral newspaper cover being circulated on social media was generated using artificial intelligence and does not represent a genuine publication from the Nigerian Tribune.

“These reports, including a fabricated statement falsely attributed to NELFUND and an AI-generated newspaper front page purportedly from The Nigerian Tribune, are entirely FAKE, misleading, and designed to create panic, confusion, and distrust among beneficiaries and the general public.

“NELFUND wishes to state unequivocally that:

No directive has been issued by the Federal Government or NELFUND regarding the suspension of upkeep allowances.

“The publications in circulation did not originate from NELFUND or any authorized government channel.

The newspaper cover currently being shared is AI-generated and does not represent a genuine publication from The Nigerian Tribune,” the statement said.

The agency stressed that it remains committed to the transparent and efficient disbursement of student loans and upkeep support in line with its mandate.

NELFUND urged students, parents, and stakeholders to disregard the fake reports and rely only on verified information released through its official communication platforms and credible media organisations.

It also cautioned members of the public against sharing unverified content capable of spreading misinformation and creating unnecessary anxiety nationwide.

The Fund disclosed that a total of 1,797,729 applications have been received since the launch of the student loan scheme, while 1,586,921 students have benefited from the initiative so far.

According to the latest Daily Status Report generated on May 28, 2026, the total amount disbursed under the programme stands at N282,203,007,657.25.

The breakdown showed that N183.9 billion had been paid directly to 301 tertiary institutions nationwide to cover tuition fees and statutory charges, while N98.29 billion was disbursed to students as upkeep allowances to support their living expenses.

NELFUND further revealed that the scheme recorded an additional 234 applications within the last 24 hours, representing a 0.01 per cent increase in new applications compared to the previous day.

The student loan programme, introduced under the Federal Government’s Renewed Hope Agenda, provides zero-interest financial support to students in public tertiary institutions across the country.

Under the repayment structure, beneficiaries are expected to begin repayment two years after completing the National Youth Service Corps programme.