The Federal Ministry of Youth and Sport Development (FMYSD) through its Social media handle made a statement concerning the disbursement of NYIF fund to Applicants of the Nigerian Youth Investment Fund (NYIF)
NOTE: Not Pre-qualified for NYIF Loan Programme Disbursement
(A) Some applicants were not pre-qualified for NYIF loan disbursement for the following reasons:
- Applicants did not provide a valid or correct phone number for communications on further steps in the NYIF loan application
- The applicant has existing AGSMEIS or COVID-19 Loan
- The applicant is older than 35 years old, which puts them beyond the age bracket for youth
- The applicant has a poor credit rating or currently has a non-performing loan
- The applicant failed to provide a valid BVN
- Applicants provided incomplete or incorrect BVN.
(B) Another batch of 5,000 have been pre-qualified for FMYSD NYIF training ahead of final clearance for disbursement.
(C) Beneficiaries and applicants are reminded that the Nigeria Youth Investment Fund (NYIF) disburses repayable loans to the youth and not grants.
(D) The Ministry for Youth and Sports Development is in consultations with other partners to expand the NYIF loans disbursement platform in order to fast track the youth’s access to the Fund.
The Ministry for Youth Help Line: In case you have any complaints / questions please send an email to: nyif@youthandsport.gov.ng
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