The federal ministry of Youth and Sports Development has given an update regarding the status of NYIF loan disbursement.
As stated by the management, the following reasons have made some NYIF loan applicants not to pre-qualify for the NYIF Loan application.
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- Some applicants do not provide a valid phone number for communication for further steps in the Loan Application
- Applicants have an existing AGSMEIS and Covid-19 Loan
- Applicants are older than 35 years, which put them beyond the youth age
- The applicant has a poor credit rating
- Applicants fail to provide BVN
- Applicants provide incorrect or incomplete BVN
| SEE ALSO: NYIF: Ministry of Sports and Youths Development lists those qualified for loan approval |
However, another batch has been pre-qualified for training ahead of final clearance for disbursement. Beneficiaries and applicants are reminded that the Nigeria Youth Investment Fund (NYIF) disburses is repayable loan to the youth and not grant.