Nigeria Youth Investment Fund (NYIF) Successful Applicants 2021 Update

NYIF shortlisted names 2020: Successful applicants will undergo 5 days of compulsory online training which is free.

The official website to apply is https://nyif.nmfb.com.ng/Applicants/New

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This became imperative because of the need to have some experience before funds is released to an individual or groups

The Federal Government has made a free and compulsory online training for all applicants who applied for the National Youth Investment Fund.

Nigeria Youth Investment Fund (NYIF) Successful Applicants 2020 Update

The aim is equipped applicants with all the skills and knowledge needed to put good use of the funds individuals applied for

Requirements for Registration-Nigeria Youth Investment Fund NYIF

• State of Origin

• LGA

• Educational Level

• Select Preferred Training Center

• How did you hear about NYIF?

• Phone

• Gender

• Residential Address

• Geo-Political Zone

NOTE:

You also need your BVN to apply for NYIF FUNDS

Below are steps to access the facility and all you need to know about the scheme.

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

Loan range

The Loan, whose aim is to meet 500, 000 youths from 2020-2023, ranges approval will range from N250, 000 to N50m with a spread across group applications, individual applications, working capital loan set as one year and term loan set at three years with a single-digit interest rate of 5%.

A minimum of N25 billion each year in the next 3 years, totalling N75billion will be required to ring-fence the NYIF.

For the remaining parts of 2020, N12.5 billion will be needed to kick starts the NYIF. It is expected that successive governments will keep the fund alive.

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).

Disbursement

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

please note that the NYIF shortlist names 2020 is not yet out. The application is currently ongoing. We will announce to you as soon as the Nigeria youth investment Fund shortlisted names 2020 is out.