NYIF  Update: Ministry urges fund applicants to come for their loan requests

Please check your E-mail inbox or spam to confirm.

The Federal Ministry of Youths and Sports Development is appealing to Nigerian youths who applied for loans under the Nigeria Youth Investment Fund (NYIF) to come for disbursement.

JOIN US FOR MORE ON:
or

According to the Ministry, less than 14% of the newly shortlisted applicants from the 25,000 successful candidates, who are expected to be part of the loan, have responded to emails confirming their approval to receive the soft loan.

While noting that instructions on how to access the funds are contained in the email sent, the Ministry expressed worry that the rate of response to the emails has been “quite low.” It added that those that responded have received the funds into their PFI designated bank accounts.

SEE ALSO: GEEP Loan: FG sets date for GEEP 2.0 Enumeration, reveals GEEP Loan Disbursement Date

The Ministry in a statement signed by its Director, Press & Public Relations, Mohammed Manga, said: “The Nigerian Youth Investment Fund (NYIF) is being disbursed to the youth who have expressed business needs within a range of N250,000 to N3 million depending on the scale of the business and its evaluation.

HEY THERE: Are you looking for a WhatsApp TV where you can find great memes, funny videos, and trending gists, even with several opportunities with cash prizes? Then look no further. LOP TV is here to bring to you this top-rated content. JOIN LOP TV now

“Shortlisted candidates must respond to communication in order to conclude the disbursement process. Those who fail to respond risk forfeiting this opportunity.

“About 6,000 youth benefitted from the first set of disbursements in 2020 and the names of the beneficiaries have since been made public.

While in the second batch 4,375 have so far responded to their loan offer messages and received their funds.”

SEE ALSO: 2022 Federal Government of Nigeria Scholarship Award for Undergraduate and Postgraduate Students

The Federal Ministry of Youth and Sports Development (FMYSD) and the Central Bank of Nigeria launched the NYIF in 2020 which aims to financially empower Nigerian youth to generate at least 500,000 jobs between 2020 and 2023. It was funded with an initial take-off seed capital of N12.5 billion

The major objectives of the fund are to address the fragmentation of youth initiatives that prevent assessment of impact and to provide the Nigerian youth with investment inputs required to build successful businesses that can become sustainable employers of labour and contributors to Nigeria’s development.

Originally published by Nairametrics

MASSIVE OFFER: Get your business seen by 8,000 people for just N1,000. How? See here!

Free Meta Business Management Course


DISCLAIMER: Do not pay or release sensitive financial details to any organizer/recruiter unless futher verified from your end.
Easter Hunt Sale
Easter Sale
Sam Rantimi

About the Author: Sam Oluwarantimi

Interpersonal Communication Specialist & Graduate (Biology), Obafemi Awolowo University. Join me on Twitter.

Got a question/Suggestion? Let's talk!

LATEST OPPORTUNITIES:

🕛 Jan 31, 2023
American University Human Rights Essay Award 2023(Fully-funded to Washington D.C. USA)
in Awards & Prizes | for Professionals

🕛 Jan 31, 2023
Apply: West Africa Civil Society Institute (WACSI) 2023 Next Generation Internship Program
in Internships / Graduate Trainee Progs. | for Africans

🕛 Jan 31, 2023
Cheshire Prize for Literature 2022
in Awards & Prizes | for Writers & Poets

🕛 Jan 31, 2023
Cudos Foundation 2023 Grant Program for African Entrepreneurs ( $5,000 to $250,000 USD)
in Grants & Fundings | for Africans

🕛 Jan 31, 2023
Deloitte/One Young World 2023 Scholarship Program (Fully-funded)
in Scholarships | for Youths

🕛 Jan 31, 2023
Dolors Alberola Poetry Prize 2023
in General Competitions | for Writers & Poets

🕛 Jan 31, 2023
EPSO Young Plant Scientist Award 2023
in Awards & Prizes | for Scientists

🕛 Jan 31, 2023
ICFJ/ONE 2023 Michael Elliott Award for Excellence in African Storytelling
in Awards & Prizes | for Journalists

🕛 Jan 31, 2023
NOUN Essay Competition On Open and Distance Learning (ODL) 2023
in Essay Contests & Prizes | for Nigerians

🕛 Jan 31, 2023
Singapore Management University (SMU) 2023 Steven Miller Scholarship for Undergraduates
in Scholarships | for Undergraduates

1 2 3 4 5 6 7 8 9 10 11 12