NELFUND Warns Against Fraudulent Student Loan Websites in Nigeria
Updated on · By Olusegun · Leave a Comment
Are you a student in Nigeria looking for financial aid? Have you come across the 'Federal Study Loan' advertisement in the Punch newspaper? Before you click, NELFUND has issued a stark warning about verifying the legitimacy of websites claiming to offer these loans. Could this warning affect your plans to fund your education? Let’s uncover the truth behind these claims.
In a recent announcement from Abuja, the Nigerian Education Loan Fund (NELFUND) has issued a warning to students to remain vigilant and verify the authenticity of any website or service that claims to represent the organisation. This critical alert was delivered on Friday by Nasir Ayitogo, NELFUND’s Head of Media and Public Relations.
According to NELFUND, there has been a troubling rise in fraudulent activities, particularly an advertisement in the Punch newspaper for a so-called ‘Federal Study Loan’. This advertisement directs users to a fake website (www.fedstudyloan-gov.ng), which falsely claims to offer the student loan programme anticipated by the Federal Government.
NELFUND has officially disassociated itself from this website and strongly condemns these deceptive practices aimed at students seeking financial aid. The organisation emphasises its commitment to the security and well-being of students, dedicating itself to providing reliable information and resources to support their educational financing.
Mr Ayitogo has called upon anyone who has fallen prey to this scam to immediately report the incident to the authorities. He reassured that the legitimate process for student loan applications will soon be open to the public through the official channel, www.nelf.gov.ng.
Furthermore, NELFUND revealed that the first batch of beneficiaries of the genuine student loan scheme would include no fewer than 1.2 million Nigerian students enrolled in tertiary institutions and government-recognised skill acquisition centres. The Managing Director of NELFUND, Akintunde Sawyerr, stated on 18 April that the funding for this initiative will be sourced from one per cent of the annual revenue generated by the Federal Inland Revenue Service.
This development highlights the importance of caution in the digital age, where fraudulent schemes can often appear legitimate. As NELFUND prepares to roll out its official student loan programme, students are urged to stay informed and consult only verified sources to avoid falling victim to scams.