Nigerian Youth Investment Fund (NYIF) is a government initiative created to support youths in business financially. The nigerian youth investment fund application portal is now open for the Nigerian Youth to submit their applications. The Nigeria youth investment fund (nyif) application portal opened on 13th of October 2020 and it's for Nigerian Youths from the age of 18- 35 years that met the requirments.
NYIF Loan Application portalhttps://nyif.nmfb.com.ng/app
It is a Government Ministry in Nigeria created in the year 2007 with the mandate inter'liar to promote the socio economic development of the Nigerian Youth through the advancement of their welfare and provision of opportunities for their self- actualization.
fund aims to reach 500,000 youth annually between 2020 and 2023. Each fund approval will range from N250, 000 to N50, 000,000, with a spread across group applications, individual applications, working capital loans set at 1 year and term loans set at 3 years with single digit interest rate of 5%.
Here is a step by step guide on how you can successfully apply for the ongoing Nigeria Youth Investment Fund (NYIF)
Click on the link above to open the NYIF application portal. Once the NYIF portal loads, you will see the application form.
Enter the following personal information
When you are done filling the above, click the "Next" button
Click on the select box to chose the training center of your choice. The following training center options are available;
The 4th step is a select box asking you how you knew about NYIF. The following options are available
The 5th step is a check button requesting you to confirm that the information you provided is true and correct. Click on the button to accept
Click on the submit button to finally finish your application.
The Nigeria Youth Investment Fund registration portal is https://nyif.nmfb.com.ng/Applicants/New .
The youth investment fund application form is found on the page when you open the link above
The youth investment fund portal has no closing date yet
For more details visit Nigeria youth investment fund website
If you successfully applied for NYIF and you are pre-qualified, you will receive this SMS on your phone
You have been pre-qualified for the NYIF loan programme, kindly click on this link to apply.
When you receive this SMS the next thing to do is to follow the steps below.
Note, some persons are finding it very difficult to see the NYIF loan email verification link in their email.
Simple. Visit the NYIF application portal https://nyif.nmfb.com.ng/Applicants/New, enter personal information. Choose your preferred training center, accept terms of services and submit your application.
You would need to be duly registered as a formal youth owned enterprise with Corporate Affairs Commission (CAC). You also need to provide a business plan summary, a completed questionnaire, training certificate from an approved FMYSD EDIs, valid Bank Verification Number (BVN) of the Director and Tax Identification Number (TIN).
You must be a Nigerian Youth within the age bracket of 18 to 3t years. Your business must be an operational enterprise located in Nigeria. You must not have been convicted of any financial crime in the past 10 years. You must have a valid be Bank Verification Number and local government indigene certificate.
You would need to provide the training certificate approved by FMYSD EDIs, your certificate of incorporation and form CAC 2A, valid bank verification number, local government of origin indigene certificate, application form, birth certificate, Tax Identification Number (TIN), a summary of business plan, valid means of identification and a two - year bank statement analysis.
The Nigerian Youth Investment Fund is dedicated to investing in the innovative ideas, skills, talents and enterprise of the Nigerian Youth and aimed at turning them into Enterprenuers, wealth creators and employers of labour contributing to national development.
For a non - registered business or an individual, the limit is N250,000 and for a registered business, the limit is N3,000,000.
The maximum loan tenor is 5 years.
The repayment will be done installmentally in accordance with businesses and NFMN evaluation.
It is the Federal Ministry of Youth and Sports Development (FMYD) in conjunction with the Central Bank of Nigeria (CBN). The ministry is mandated to develop socio - economic development of the youths in Nigeria and provision of opportunities for self - acquisition.
No. Both male and female are welcome to register for the NYIF loan.
The application form is https://nyif.nmfb.com.ng/Applicants/New
If you want to login to check NYIF shortlisted candidates please visit https://nyif.nmfb.com.ng/app.
It is the age bracket of 18 - 35 years.
The interest rate is 5% per annum (all inclusive).
Your business / enterprise must be situated and operational in Nigeria
Your valid means of identification could be your driver's license, National ID or international passport
It depends on your type of application. As a household, you can access a maximum of 3 million naira. As for SMEs, the loan depends on the activity, cashflow and industry / segmentsize of a beneficiary, with a maximum of 25 million naira.
Yes. A valid Bank Verification Number (BVN) is one of the core requirements for the application of the NYIF loan.
No. You cannot access the NYIF facility. The only way you can access the loan is if you have fully repaid a previous CBN intervention.
No. But the asset purchased under this scheme with be registered in the National Collateral Registry (NCR). And the Global Standing Instruction (GSI) will be activated so that full repayment will be made.
You are expected to visit the nearest approved Federal Ministry of Youth and Sports Development (FMYD) Entrepreneurship institute.
No. Unless it is listed by FMYSD, NIRSAL Institute EDIs are not eligible to train any applicant under the NYIF scheme.
You are expected to visit https://nyif.nmfb.com.ng/app, input your BVN and ensure that all your details are correct. If all goes well, you will be redirected to the next page, while NYIF will send you a verification to your email address.
You will login to your email address, click on your inbox or spam folder and then you will the email verification link. Click it and you will be redirected to the NYIF Loan Application portal where you fill the necessary information and click "Submit" .
You can visit https://nyif.nmfb.com.ng/app, input your BVN, validate your BVN, input your password.
You can login into your account through NYIF online portal. Next, you will input your username and password, then you scroll down and click on 2021 beneficiaries. Download the list and search for your name.
The NYIF loans will be disbursed to the beneficiaries through finance, microfinance and deposit money banks.
You don't have to panic. It is either not your turn to receive the loan, or your bank account doesn't have the capacity to take the total amount approved for you.
You would need a standard account having the capacity to receive a minimum of 200,000 naira and above at a time.
Simply visit the NYIF application portal. Click on NYIF loan status. Next, click on "Accept loan offer", enter your bank details and finally click on submit.
You need the following:
If you are undergoing NMFB loans, like the targeted Credit Facility (TCF) or Agribusiness / Small and Medium Enterprise Investment Scheme (AgSMEIS) loans and haven't repaid fully, you will not be eligible for the NYIF loan.
The eligible business activities are the ones listed under the following sectors:
Technology / Innovation
Logistics and Supply Chain
Hospitality / Tourism
Others determined by NYIF
No. With an approved work plan or business idea,you can have a less cumbersome access to credit and finance.
The Ministry of Finance, Budget and National Planning (MFBNP) and the Central Bank of Nigeria (CBN) provides the financing to kickstart the Nigerian Youth Investment Fund.
The NYIF application deadline is not yet specified. Subsequent information on the deadline will be disseminated on a later date.
The National Youth Development Centers in Nigeria are seven (7).
The National Youth Development training center are located in: North - East, Nost - West, North - Central, South - South, South - West, South - East and Federal Capital Territory.
No training fee is required.
The training program lasts for 5 days and it is conducted online.