The National Enterprise Development Fund (NELFUND) has issued a statement to clarify recent reports suggesting an increase in its monthly stipends from ₦20,000. NELFUND officials said that the reports were misinterpreted and that no official decision has been made regarding a revision of the current stipends.

The fund stressed its commitment to supporting youth entrepreneurship and empowerment programs and assured beneficiaries that any changes to stipend amounts would be communicated transparently through official channels.

NELFUND further urged the public and media to rely on verified statements before reporting on sensitive issues affecting program beneficiaries, emphasizing the importance of accurate information in maintaining trust and confidence in the fund’s operations.