NELFUND Raises Alarm Over Fake Student Loan Portal, Urges Applicants to Stay Vigilant

The Nigerian Education Loan Fund has cautioned students and the general public against fraudulent messages promoting a fake registration portal for its interest-free student loan scheme.

The warning follows the circulation of a misleading notice claiming that a new portal for the 2026 application cycle had been opened. The notice, which included a suspicious web link, falsely suggested that the move was authorised by President Bola Ahmed Tinubu to address challenges faced by students.

In a statement shared via its official communication channels, NELFUND dismissed the notice as fraudulent and urged Nigerians to rely solely on verified platforms for accurate information.

“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,” the Fund stated.

This is not the first time scammers have targeted the scheme. Similar fake messages circulated in 2025, often claiming government directives to reopen application portals or promising quick cash transfers to unsuspecting students.

Established under the Student Loan (Access to Higher Education) Act, 2024, the NELFUND initiative provides interest-free loans covering tuition fees and monthly upkeep allowances for eligible students. Repayment is scheduled to begin two years after beneficiaries complete the National Youth Service Corps programme.

The Fund reiterated its commitment to ensuring transparency and accessibility while warning that falling for such scams could expose applicants to financial loss and data theft.

As interest in the scheme grows, NELFUND emphasised the importance of public awareness in combating digital fraud targeting students.

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