The Nigerian Education Loan Fund has warned students and the general public to be cautious of fraudulent loan websites that pose as legitimate loan providers.
This was revealed in a statement released by the Head of Media and Public Relations at NELFUND, Nasir Ayitogo, which was seen on X (previously Twitter).
It warned that scammers create fake websites designed to appear legitimate, offering attractive loan options.
The organisation emphasised that it was not associated with fraudulent websites and advised people to verify any loan offers by contacting it directly through its official channels.
According to the fund, the official NELFUND website, where student loan applications will be accepted in the future, is www.nelf.gov.ng.
It noted that fraudsters operating the website www.fedstudyloan-gov.ng had advertised an application for the highly anticipated student loan programme of the Federal Government.
“NELFUND wishes to clarify that it has no association with this website and strongly condemns any attempts to deceive students seeking financial aid.
“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,” Ayitogo stated.
He urged anyone affected by the scam to report it immediately to the relevant authorities, adding that the official channel for student loan applications, which will be opened to the public in due course, is www.nelf.gov.ng.
Another report stated that Nigerians have lost around N25.5bn to fraud over the past four years, with each Nigerian losing around N35,000 annually to financial crimes.
Without some sophisticated tools, hackers use deceptive websites as part of their strategies to deceive and exploit unsuspecting individuals.