NELFUND Raises Alarm Over Fake Student Loan Portal Targeting Nigerians

(NELFUND. Photo by Wikipedia)

Students and the general public have been cautioned by the Nigerian Education Loan Fund to be on the lookout for growing frauds that target its interest-free student loan scheme.

A false notice stating the establishment of a new 2026 registration portal was circulated, which prompted the alert.

The Fund encouraged Nigerians to check all links and only use its verified channels in a post on its X handle on Thursday in order to prevent falling for false information and possible frauds. 

For reliable information, please make sure to check all links and rely solely on our official outlets. Keep an eye out for false information, fake news, and other frauds, NELFUND advised.

According to the dubious announcement, President Bola Tinubu ordered the portal's creation because of the difficulties pupils were facing.

Additionally, it advertised a questionable link that NELFUND deemed fraudulent as an official portal for student loan registration and cash transfers. 

Scammers have previously targeted NELFUND beneficiaries.

In 2025, similar bogus mails that promised simple financial transfers or falsely claimed that the president had ordered the reopening of portals have gone viral.

The NELFUND loan is an interest-free student loan that Tinubu signed into law under the Student Loan (Access to Higher Education) Act, 2024.

Tuition and monthly maintenance allowances are covered, and repayment will start two years after the National Youth Service Program is finished.