Reason Some NYIF Loan Applicants Were not Pre-qualified for Loan Disbursement

The federal ministry of Youth and Sport Development has given an update regarding the STATUS of NYIF LON DISBURSEMENT.

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As stated by the management, the following reasons has made some NYIF Loan applicants not to pre-qualify for the NYIF Loan application.

1. Some applicants do not provide a valid phone number for communication for further steps in the Loan Application
2. Applicants has an existing AGSMEIS and Covid-19 Loan
3. Applicants is older than 35 year, which put them beyond the youth age
4. Applicant has a poor credit rating
5. Applicants fail to provide BVN
6. Applicants provide incorrect or incomplete BVN

However, another batch has been pre-qualified for training ahead of final clearance for disbursement. beneficiary and applicants are remained that the Nigeria Youth Investment Fund (NYIF) disburses repayable loan to the youth and not grant.