NELFUND reaffirms ₦20,000 monthly stipend, dismisses increase rumors

The Nigerian Education Loan Fund (NELFUND) has officially denied speculation that it has increased the monthly upkeep allowance for student beneficiaries from ₦20,000 to ₦25,000. In a statement released on Monday, March 30, 2026, the agency clarified that the approved stipend remains ₦20,000 monthly. The statement, signed by NELFUND’s Director of Strategic Communications Oseyemi Oluwatuyi, emphasized: “The approved upkeep allowance remains N20,000 (Twenty Thousand Naira) monthly, and not N25,000 as being reported.” This clarification aims to correct misinformation circulating among students. NELFUND advised beneficiaries to disregard any unverified claims and rely exclusively on official communication platforms for accurate updates. Students are urged to confirm all information through NELFUND’s verified channels, including their website and official social media accounts. The stipend amount is fixed at ₦20,000 per month. No changes have been approved. Students should stay informed through authorized sources to avoid confusion.

SOURCE: https://dailypost.ng/2026/03/30/nelfund-clears-air-on-increase-in-stipend-from-n20000-monthly/