What is the closing date for NYIF registration? Get the closing date here
The Nigeria youth investment fund loan registration is not closing anytime soon as there is no official closing date for the program yet.
The is because the federal government wants to allow every Nigerian youth to register to benefit from the benefit of the program.
The NYIF official thereby encourages those that have not registered and those that are still planning on registering to hasten up and register for the ongoing Nigeria youth investment fund loan.
The program is flexible and the registration is easy, it is an online training with no training fee. So if you are yet to register for the NYIF loan, here is your chance to hurry up and do, so you can be part of the beneficiaries if selected.
Is NYIF is ongoing?
Don’t be shocked to discover that the Nigeria youth investment fund NYIF loan registration portal 2021 is still ongoing.
So your chance to get the 75 billion naira youth loan from the federal government is still available.
The truth is, you might have heard about this NYIF loan powered by the federal government and central Bank of Nigeria (CBN) but thinking it is another way those scammers initiated.
I’m sorry to disappoint and prove your assumptions wrong.
NYIF loan is a government-initiated program to help alleviate poverty and assist young Nigerian enterprises by giving them loans of different amounts. The program has been going on since 2020 and registration is still ongoing.
To those that have previously registered and received a message from NYIF official, there was an issue with the registration portal some times ago about the application forms
the applicants filled up after receiving an SMS redirecting them to click on a link sent to them to continue with the next phase of the registration,
the applicants were disappointed as they did not meet the easy process they expected because the portal was malfunctioning and in most cases, the site refused to open.
However, the glad tiding is that the portal is now back to work and is fully working so you have nothing to fear again. The loan application form explains the applicant’s data, the amount you want to borrow,
the loan purpose, the loan interest rate, and the terms associated with it. Hurry now and obtain the form to take your business to another level.
Has NYIF registration closed?
The Nigeria youth investment fund loan registration is still available, applicants for the NYIF loan is incredibly increasing day by day.
A lot of people are still surprised this could be happening in Nigeria and they are gladly putting in their best to be part of the beneficiaries.
Another interesting part of it is its simplicity, this means, you do not necessarily have to go to any center or place to do your registration,
with your smartphone, PC, or any internet-connected device, you are good to go. All you need is the registration portal to log in and input the required documents and information.
How can I apply for a youth fund in Nigeria?
The youth fund application portal is easy and flexible to apply.
You now have access to about three million naira worth of credit facility which the federal government of Nigeria specifically made for young Nigerian individuals and business enterprises.
The youth investment fund program is initiated to invest in the innovative ideas, talents, and various skills of Nigerian youths and at the same time turn them into big and independent entrepreneurs, wealth creators, and labor employers.
Having undergone and studied the pathetic conditions of the Nigerian youths, the Nigerian youth investment fund NYIF loan program was initiated
by the federal government and the Federal Ministry of youth and sports development (FMYSD) in partnership with the central bank of Nigeria (CBN).
The loan amount if granted is two hundred and fifty thousand to three million nairas (250,000-3,000,000) which are set to last for five years with an interest rate of five percent per annum.
Candidates will be selected based on the information listed below:
- 1. A candidate must be a citizen of Nigeria within the age range of 18-35 years
- A candidate must have a functioning business enterprise based in Nigeria. This is an added advantage to those that are yet to register their business, they have access to apply.
- A candidate must be free from any criminal records in the past ten years. Financial crime in particular.
- A candidate must possess a valid bank verification number (BVN)
- A candidate must have a valid local government indigene certificate.
2. A Formal business enterprises-youth owned enterprises
• A youth enterprises formally registered with the corporate affairs commission (CAC)
• A valid business plan summary or a completed questionnaire
• A training certificate from an approved federal ministry of youth and sports development (FMYSD EDIs) as evidence
• A valid bank verification number of directors
• A valid tax identification number.
Eligible activities and business available
- Hospitality and tourism
- Technology and innovation
- Agriculture and related value chain
- Green economy and renewable energy sector
- Logistics and supply chain
- Healthcare value chain
- Creative sector.
This is the application process:
An application process is an online form, a prospective candidate will log in to the Nigeria youth investment fund portal nyif.nmfb.com.ng to fill in the form, after which the participants will carry out the following:
• An applicant must attend an FMYSD approved entrepreneurship training
• After the training completion, a successfully trained applicant will then proceed to the NIRSAL microfinance bank portal to apply for the loan
• After filling the NIRSAL microfinance bank form present in the portal, the next thing is to submit and await their approval
• The NMFB then carry out a thorough loan assessment based on risk assessment status with the program’s guiding rules then conclude on a decision, they will, in turn, send the recommended application to the central bank of Nigeria CBN for final approval
• The CBN then reviews the application and finally gives approval to the applicant’s request for money disbursement.
The Nigeria youth investment fund is still available and the portal is accessible at any time of the day pending the time its closing date will be announced.