Nigerian Education Loan Fund (NELFUND) has issued a fresh warning to students and the general public over a rise in fraudulent schemes targeting its interest-free student loan programme, following the circulation of a fake 2026 registration portal.
In a notice posted on its official X (formerly Twitter) handle on Thursday, the Fund urged Nigerians to exercise caution, verify all information sources, and rely strictly on its authorised communication channels.
“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 agency stated.
The alert comes in response to a widely shared message claiming that Bola Tinubu had directed the reopening of a new registration portal for 2026 due to challenges faced by students. The message also promoted a suspicious link purportedly offering access to loan applications and cash transfers; claims NELFUND has categorically described as fraudulent.
The development highlights growing concerns around digital fraud in Nigeria’s expanding financial inclusion ecosystem, particularly as government-backed intervention programmes gain traction.
This is not an isolated incident. Similar scam messages circulated in 2025, falsely invoking presidential directives and promising quick access to funds, underscoring persistent attempts by fraudsters to exploit public trust and information gaps.
Established under the Student Loan (Access to Higher Education) Act, 2024, the NELFUND scheme is designed to expand access to tertiary education through interest-free loans. The facility covers tuition fees and provides monthly upkeep allowances, with repayment scheduled to begin two years after beneficiaries complete the National Youth Service Corps programme.
