The Nigerian Education Loan Fund (NELFUND) has cautioned students and the general public against fraudulent schemes targeting its interest-free student loan programme.
The warning follows the circulation of a fake notice claiming the launch of a new 2026 registration portal for the scheme.
In a statement shared via its official X handle, the Fund urged Nigerians to verify all information and rely only on its authorised communication channels to avoid falling victim to scams.
“Please ensure you verify all links and rely only on our official channels for accurate information. Remain vigilant against misinformation, fake news, and potential scams,” NELFUND stated.
The fraudulent notice alleged that President Bola Ahmed Tinubu had approved the reopening of the portal due to challenges faced by students. It also promoted a suspicious link purportedly for student loan registration and cash transfers—claims the Fund has dismissed as false.
NELFUND noted that this is not an isolated incident, recalling similar scams in 2025 where fraudsters falsely claimed presidential directives or promised quick financial benefits to unsuspecting applicants.
The loan scheme, established under the Student Loan (Access to Higher Education) Act, 2024, provides interest-free loans to eligible students. It covers tuition fees and offers monthly upkeep allowances, with repayment scheduled to begin two years after completion of the National Youth Service Corps programme.
The Fund reiterated its commitment to protecting applicants and advised the public to remain cautious and report any suspicious links or messages.
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