NELFUND Sets the Record Straight on Stipend Hike from N20,000 Monthly

The Nigerian Education Loan Fund, NEFLUND, has refuted rumors suggesting it has raised its monthly maintenance allowance for student beneficiaries.

In a declaration on Monday, they made it clear that the sanctioned monthly stipend still stands at N20,000.

There have been allegations that it was increased to N25,000.

The announcement, endorsed by NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, stated, “The sanctioned maintenance allowance remains N20,000 (Twenty Thousand Naira) each month, and not N25,000 as has been claimed.”

NELFUND urged students to dismiss unfounded assertions and verify on their official communication platforms for precise updates.

“Students are encouraged to ignore any conflicting information and depend solely on official NELFUND communication channels for precise updates,” the announcement specified.