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NELFund denounces fake student loan site

The Nigerian Education Loan Fund has warned against what it described as a “fraudulent advertisement” about a “Federal Study Loan.”

This followed ads on some news sites where the website, is being advertised as the application portal for the highly anticipated student loan scheme of the Federal Government.

A disclaimer signed on Friday by its Media and Public Relations Lead, Nasir Ayitogo read, “NELFUND wishes to clarify that it has no association with this website and strongly condemns any attempts to deceive students seeking financial aid.”

Ayotogo added that the Fund’s official channel for student loan applications, which will be open to the public in due course, is

He appealed to persons who encounter the fake website to report to the authorities immediately.

“NELFUND takes the security and well-being of our students very seriously and is committed to providing accurate information and resources for financing their education.

“We urge all students to exercise caution and verify the legitimacy of any website or service claiming to represent our organisation.

“In the meantime, we encourage anyone affected by this scam to report it immediately to the relevant authorities,” the statement read.

On April 3, President Bola Tinubu signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law.

This followed separate considerations by both the Senate and the House of Representatives of the report of the Committee on Tertiary Institutions and TETFund.

The law enables indigent students to access interest-free loans for their educational pursuits in any Nigerian tertiary institution.

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