NYIF News Today 2021 November: Nigeria Youth Investment Fund Latest News On Shortlist, Registration, Disbursement , Closing Date & Login Portal Application

NYIF News Today 2021 – latest updates on the N75 billion youth fund, shortlist and Nigeria Youth Investment Fund (NYIF) Registration 2021  – Nigerian Youth Investment Fund (NYIF) Application Portal – https://nyif.nmfb.com.ng. This Progam was flagged off by The Federal Ministry of Youth and Sports Development, the application for the N75 billion Nigeria Youth Investment Fund (NYIF) recently approved by the Federal Government.

 

NYIF News Today 2021 Updates

Total Of 1,003 Nigerians Disqualified From N12.5bn Youth Investment Fund (NYIF) – FG: Total Of 1,003 Nigerians Disqualified From N12.5bn Youth Investment Fund (NYIF) – FG. This report was released by the Ministry of Sport and Youth Development. The ministry says that a total of 1,003 Nigerians who applied for the Nigeria Youths Investment Funds (NYIF) have been disqualified…Read More

Join Joberplanet  Telegram Channel - Be the first to know when we publish any job

Ministry denies misappropriation of NYIF’s N75 billion Fund: The Ministry of Youth and Sports Development denied misappropriation of NYIF’s N75 billion Fund. This is contained in a statement by its Director (Media), Mallam Manga Mohammed, the ministry described the report as coming from “a mere press release deriving from a frivolous petition that contained fallacious claims and unfounded allegations…Read more

FG – Ministry of Youth and Sports Development Shortlists 10,000 Youths For Investment Fund Training, Disbursement : The Ministry of Youth and Sports Development through the FG on Tuesday, stated that out of the ongoing screening of over 3 million applicants for the NYIF loan, 10,000 have been shortlisted for training by the Ministry after which they will be approved for specific amounts…Read more

Ministry readies another pre-qualified batch of 25,000 For NYIF: Update reaching Joberplanet desk have it that the Federal government have pre-qualified 25,000 NYIF new applicants to Benefit from the fund. The Federal Ministry of Youth and Sports Development, Sunday, said it has pre-qualified another batch of 25,000 youths for training ahead of final clearance for disbursement of the Nigeria Youth Investment Fund…Read more

NYIF Verification Message: The Nigeria Youth Investment Fund (NYIF) is sending verification message to shortlisted candidates for the NYIF fund. See the message format and how to verify your emailRead more

NYIF Application Still open: For those who were unable to meet the February  28 deadline set by the Fg for NYIF registration, the deadline is now extended .. see how to Apply

 

NIGERIA YOUTH INVESTMENT FUND  #NYIF Latest Update

1. The Nigeria Youth Investment Fund (NYIF) application portal, hosted on NIRSAL Micro-Finance by Bank (NMFB) website, has received nearly 4 Million applications for the 2020 first tranche of N12.5 Billion…which opened on October 16, 2020. Till date only N165, 700, 000 has been disbursed to 247 beneficiaries with varying tenors. This was the pilot phase.
2. The processing of the 2nd phase has since commenced with SMS and emails being sent to applicants. The Ministry wishes to apologize for the delays/ frustrations many applicants have experienced. The Ministry is working earnestly to resolve all IT related/ processing issues.
3. The Ministry wishes to alert applicants that some of these IT related and processing issues include many instances of email disparity whereby applicants registered with business centers email addresses and are now trying to proceed with their personal email addresses, which
results in mismatches that the system does not recognize.
4. When submitting information online, applicants are encouraged to wait for the system to finish processing such that they are able to see the automatic prompts that display the progress of their applications.
5. Applicants should note that relaying or sharing the email and SMS sent to them will not work for secondary recipients  as  only the original recipients of the SMS, with the correct credentials like emails and birthday, are able to proceed with the application.
Those who have or currently benefits from other government intervention programmes are also not able to proceed with the application.
6. The NYIF is a repayable “soft” loan and not a grant, therefore the processing of applications must be done carefully.
7.  Application for this 2020 tranche closes on February 28, 2020. Thereafter, successful applicants will continue to be notified in batches and invited for the next processes that will lead to loan disbursement to qualified applicants.

Even if u did not received message from NMFB and You have applied for the NYIF loan, you should click on https://nyif.nmfb.com.ng/app
and input you BVN and click validate to create your password and wait for confirmation email. The applicants are much and dont expect everyone to receive message.
And also if you have not applied at all you shoul click on https://nyif.nmfb.com.ng
and click on ‘Apply’ the application its still on.

– The NYIF is an initiative of the Federal Ministry of Youth and Sports Development and funded by the Central Bank of Nigeria (CBN), which would be spread over 3 years to cater to youth-owned businesses and investment needs. The CBN Youth Investment Fund is dedicated to investing in the innovative ideas, skills, talents and enterprise of the Nigerian youth with the aim of turning them into entrepreneurs.

NYIF Registration Form 2021 | Guide on NYIF Application portal nyif.nmfb.com.ng

The fund is dedicated to investing in the innovative ideas, skills & talents of Nigerian youths aimed at turning them into entrepreneurs, wealth creators and employers of labour, contributing to national development.

 

Nigerian Youth Investment Fund Registration 2020
how to apply for Nigerian Youth Investment Fund Registration 2020

The plan targets young people between the ages of 18-35 years and details the needed actions required to support business establishment, expansion and consequent employment creation for youth in critical economic and social sectors.

Nigerian Youth Investment Fund (NYIF) Application Form

DESCRIPTION

  • Individual or non-registered businesses are able to draw up loans of up to two hundred and fifty thousand naira (₦250,000.00), while youth owned registered businesses can apply for up to three million naira (₦3,000,000.00).
  • Loans are with a tenor of five years and moratorium of up to 12 months.

GENERAL ELIGIBILITY

  • Nigerian Youth within the age of 18 and 35 years
  • Youths with Innovative ideas, skills, talents and enterprise
DOCUMENTATION REQUIRED
  • Training Certificate from approved FMYSD EDIs
  • Evidence of registration with Corporate Affairs Commission (Certificate of Incorporation and Form CAC 2A
  • Valid Bank Verification Number (BVN) for Individuals and Directors
  • Evidence of Local Government Indigene certificate
  • Duly completed Application form
  • A copy of Birth Certificate
  • Valid Tax Identification Number (TIN)
  • A Summary Business plan / Questionnaire
  • Valid means of Identification (Voter’s Card. Drivers License. National ID/NIN Slip 3. International passport)

The Nigerian Youth Investment Fund (NYIF) aims to reach 500,000 youth annually between 2020 and 2023. Each fund approval will range from N250, 000 to N50, 000,000, with a spread across group applications, individual applications, working capital loans set at 1 year and term loans set at 3 years with single digit interest rate of 5%

More On NYIF News

NYIF portal for Loan Application | NYIFNews

Individuals / Non-registered Businesses – Up to N250,000 Individual within the age bracket of 18 to 35 years

  • Has a valid BVN and means of ID
  • Provision of Business plan Summary or Completed Questionnaire
  • Entrepreneurship Training Certification from FMYSD Entrepreneurship Development Institutes (EDIs). Registered Businesses Up to N3 Million Formal business enterprises (Youth owned enterprises), duly registered with the Corporate Affairs Commission (CAC)
  • Valid Bank Verification Number (BVNs) of Directors
  • Provision of Tax Identification Number (TIN)
  • Entrepreneurship Training Certification from FMYSD EDIs

NYIF Application  Login Portal

Interested and qualified youths with business ideas that require funding can apply for the fund through the following application portal – https://nyif.nmfb.com.ng/Applicants/New