The Federal Ministry of Sports and Youths Development has revealed those whose applications may be approved for final disbursement.
The Ministry said, only N3bn has so far been released to finance the program, despite the N12.5bn approved by the President. The N3bn was to be disbursed to only 6054 approved applicants who met all the requirements for the program.
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So far, about 53% of that money has been disbursed to 5200 applicants already. 854 applicants out of the 6054 successful applicants are yet to receive the loan while 721 applications were declined or rejected due to several reasons such as wrong BVN, unverifiable address, none performing loans with other financial institutions.
Some have uncleared or unsettled loans with NIRSAL such as AGSMES, Anchor Borrowers Program and COVID-19 Loans respectfully.
The Ministry also said some disqualified applications were submitted by those who were more than 35 years of age, which is clearly outside our age limit.