As the Nigerian Education Loan Fund (NELFUND) continues its rollout of the national student loan scheme, fraudsters are exploiting the programme’s popularity to target unsuspecting applicants with fake websites, phishing messages, and misleading social media accounts.
Okay.ng reports that these scams often promise quicker access to funds, request upfront “processing fees,” or collect sensitive personal information under false pretences.
Such activities not only endanger applicants’ financial security but also compromise their chances of successfully obtaining genuine loans.
To protect students and parents from falling victim, here are seven critical checks to help verify the authenticity of any NELFUND-related communication:
- Verify the Website Address – Always confirm that you are visiting the official NELFUND portal. Scammers often create lookalike domains with extra characters, hyphens, or unusual endings.
- Check for ‘.gov.ng’ or Verified Domains – The legitimate NELFUND website will use a government-recognised domain. Avoid filling forms on unsecured or unfamiliar sites.
- Look for HTTPS Security – Ensure the website has a secure padlock icon in the address bar, indicating that the connection is encrypted.
- Avoid Upfront Payment Requests – NELFUND does not charge any application or processing fees. Any request for payment before loan approval is a red flag.
- Confirm Through Official Channels – Cross-check all announcements via NELFUND’s verified social media pages or official press releases.
- Be Wary of Personal Data Requests via Social Media or Email – Sensitive details like BVN, ATM PINs, or full bank login credentials should never be submitted through unofficial channels.
- Report Suspicious Activity – If you encounter a suspicious link or message, report it immediately to NELFUND or relevant authorities to help prevent others from being scammed.
