The Nigerian Education Loan Fund (NELFUND) has dismissed reports suggesting an increase in the monthly upkeep allowance for student beneficiaries.
In a statement issued on Monday, the agency clarified that the stipend remains N20,000, contrary to widespread claims that it had been raised to N25,000.
The statement, signed by NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, reaffirmed the existing arrangement.
“The approved upkeep allowance remains N20,000 (twenty thousand naira) monthly and not N25,000 as being reported,” the statement read.
NELFUND urged students to ignore unverified information and rely solely on its official communication channels for accurate updates.
“Students are advised to disregard any contrary information and rely only on official NELFUND communication channels for accurate updates,” the statement added.
