The Fund described the publication as false, warning members of the public against believing or sharing the fabricated information.
NELFUND raised the alarm in a post on its official X account on Sunday, alongside an image of the fake newspaper front page being circulated on social media.
The manipulated publication, dated Thursday, May 27, 2027, claimed that President Tinubu had ordered that students who failed to repay their education loans after graduation would be sentenced to life imprisonment.
NELFUND subsequently marked the purported newspaper front page with a bold red “FAKE” label to indicate that the alleged announcement was not issued by the government.
The clarification comes amid repeated efforts by the Fund to counter misinformation surrounding the federal student loan programme. NELFUND has previously warned Nigerians about fabricated notices and circulars falsely claiming changes to the scheme, including reports alleging the suspension of loan disbursements.
NELFUND operates under the Student Loans (Access to Higher Education) Act, which established the framework for providing financial assistance to eligible Nigerian students in public tertiary institutions.
The scheme provides zero-interest loans to qualified beneficiaries to assist with institutional charges and, where applicable, upkeep expenses.
Contrary to the viral claim, beneficiaries are not required to begin repayment immediately after completing their studies.
Under the current repayment arrangement, loan repayment becomes due two years after the beneficiary completes the National Youth Service Corps programme, provided the beneficiary is employed or generating income.
For beneficiaries in paid employment, repayment is made through a deduction of 10 per cent of their monthly salary, wages or other income by their employers.
Self-employed beneficiaries are expected to remit 10 per cent of their monthly profit to NELFUND.
However, beneficiaries who
remain unemployed and have no source of income after the repayment period may apply for an extension, subject to meeting the conditions prescribed by the NELFUND Board, including the submission of a sworn statement.
The Fund urged the public to rely on its official communication channels for accurate information about the student loan scheme and to disregard unverified reports circulating online.
