The Nigerian Education Loan Fund has cautioned students and members of the public versus deceitful schemes connected to its interest-free trainee loan program.
The caution followed the circulation of a phony message declaring that a fresh registration website for the 2026 application cycle had been opened.
In a declaration shared on its official X account on Thursday, the company recommended Nigerians to validate all details through its confirmed platforms and prevent suspicious links.
NELFUND advised candidates to depend exclusively on its authorised interaction channels for precise updates, alerting versus false information and online frauds.
The deceptive notification alleged that President Bola Tinubu had bought the reopening of the portal in action to challenges dealing with trainees.
It also promoted an unauthorised website as the main platform for loan applications and money disbursement, a claim the Fund dismissed as incorrect.
The company noted that this was not the first effort by fraudsters to make use of potential beneficiaries of the scheme.
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Comparable deceptive messages were flowed in 2025, consisting of false claims of presidential regulations and promises of quick cash payments through the programme.
The student loan initiative was developed under the Student Loan (Access to College) Act, 2024, signed into law by President Tinubu.
The scheme offers interest-free loans to eligible trainees, covering tuition charges along with monthly maintenance support.
Payment is set up to begin 2 years after beneficiaries complete the National Youth Service Corps program.