Nigeria Youth Investment Fund: How To Get Your Fund Into Your Account
The Federal Government through the Ministry of Youth and Sport has paid over N165illion to 239 persons so far- A move well appraised by many
The Nigeria Youth Investment Fund (NYIF) is still training and retraining youth and giving loans to support businesses, the Minister added
“The Nigeria Youth Investment Fund (NYIF), being implemented by Ministry of Youth and Sport, has successfully completed its pilot disbursement of loans totaling N165,700,000 to 239 beneficiaries ahead of the processing of the over three million applications so far received.”
“Is being implemented by Youth Ministry in partnership with the CBN and Ministry of Finance and is being disbursed through NIRSAL”
How to Qualify?
- It is meant to cater to the investment needs of those 18-35.
- An individual and group can apply for the loan.
Who funds it?
- Ministry of Finance, Budget, and National Planning (MFBNP)
- Central Bank of Nigeria (CBN) will provide the financing to kick-start the Nigeria Youth Investment Fund (NYIF).
It would be disbursed through various channels like
- Micro Credit Organizations across the country under the Central Bank of Nigeria supported:
- Bank of Industry
- Fintech Organizations and
- Venture Capital Organizations registered with the CBN.
How to access loan
- Must be a citizen of Nigeria
- Present recognized means of identification and guarantors.
- Potential beneficiaries are expected to have a fundable business idea.
- Registered business