NELFUND Reacts to Claim it Suspended Student Loan Disbursement, Gives Fresh Update
- NELFUND has denied reports that it has suspended student loan disbursements, urging students and the public to rely only on its verified communication channels
- The agency says the student loan disbursement programme continues in full operation, as it warned the public against spreading fake news and misinformation
- NELFUND has announced some new disbursements to the Federal University of Lafia and the Oyo State College of Agriculture and Technology
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Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
The Nigerian Education Loan Fund (NELFUND) has reacted to reports claiming it has suspended its student loan disbursement programme, stating that the reports are false.
This is in reaction to a notice circulating on social media, purportedly from the agency.
In a statement posted on its official X handle, NELFUND stressed that it has not announced any suspension or pause in loan payments.
Source: Twitter
The fake notice, which has been shared online, alleges that disbursements under the student loan scheme have been temporarily suspended due to “unforeseen operational circumstances.”
However, NELFUND denied the claim and urged the public to disregard the viral notice.
The agency wrote:
“This document is fake. Kindly disregard the circulating letter on suspension of student loan disbursements. NELFUND has not issued any such directive. Please rely on official channels for verified updates”
The agency urged students and the public to rely only on its verified communication channels for accurate and reliable information, as it warns against the spread of misinformation.
It also reaffirmed that the student loan disbursement programme remains in full operation.
NELFUND announces new disbursment
Meanwhile, in subsequent updates, the agency disclosed its most recent disbursements to tertiary institutions under the student loan scheme.
NELFUND noted that it disbursed N795,729,500 to the Federal University of Lafia, supporting 6,385 students.
It also recently disbursed N42,616,928 to Oyo State College of Agriculture and Technology, as support for 319 students.
Breakdown of disbursements
As of April 2, 2026, NELFUND has received 1.77 million applications, and it has recorded 1.39 million beneficiaries.
The agency noted that it has disbursed N157 billion as institutional fees paid for students, while about N85 billion has been disbursed as upkeep allowances.
With student beneficiaries spreading across 288 institutions, the agency said it has disbursed a total of N242.4 billion to students since the inception of the programme.
Source: UGC
Top 10 states with highest NELFUND applications
Legit.ng earlier reported that NELFUND has provided interest-free loans to support over a million Nigerian students in tertiary education. The top ten states applying for NELFUND student loans include Kano, Borno, and eight others.
The South West has three states (Lagos, Oyo, and Ekiti States), the North East also has three states (Borno, Bauchi, and Gombe States), the North West has three states (Kano, Kaduna, and Katsina States), and the North Central completes the list with one state (Kwara State).
Meanwhile, Nigerians have raised concerns over the lack of applications from students from the South-South and South-East states.
Source: Legit.ng
