NYIF Urges 25,000 Shortlisted Candidates to Respond Promptly
NYIF Loan Disbursement: Ministry Urges 25,000 Shortlisted Candidates to Respond Promptly
The Ministry of Youth and Sports Development urges 25,000 Shortlisted Candidates to Respond Promptly to the ongoing Nigerian Youth Investment Fund (NYIF) loan disbursement
The Director of Press & Public Relations, Mohammed Manga made this statement as massive disbursement of the NYIF loan is ongoing
“The Nigerian Youth Investment Fund (NYIF) is being disbursed to the youth who have expressed business needs within a range of N250,000 (Two Hundred and Fifty Thousand Naira) to N3m (Three Million Naira) depending on the scale of the business and its evaluation.
”Less than 14% of the newly shortlisted applicants from the over 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. Instructions on how to access the funds are contained in the email sent. The rate of response to the emails has been quite low. However, others who responded have received the funds into their PFI designated bank accounts.
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“The Federal Ministry of Youth and Sports Development is currently delivering a fresh round of disbursements of the Nigeria Youth Investment Fund (NYIF) to youth beneficiaries whose applications have been successful
“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.
“The NYIF guidelines and processes remain the same”