How To Apply For The N75Billion Nigeria Youth Investment Fund (NYIF). The Federal Government of Nigeria has released a total sum of N75Billion for the Nigeria Youth Investment Fund (NYIF). The Nigeria Youth Investment Fund is an initiative of the Federal Ministry of Youth and Sports! Funded by the Central Bank of Nigeria.
Here, we shall show you how to apply for the Nigeria Youth Investment Fund, the requirements, and eligibility. However, the official registration portal www.nyif.nmfb.com.ng is open to receive applications from interested Nigerians. The NIRSAL Microfinance Bank is the approved bank by CBN that will disburse the fund to the qualified applicants.
What You Need To Know About Nigeria Youth Investment Fund (NYIF)
The Nigeria Youth Investment Fund (NYIF) is an initiative by the Federal Government of Nigeria to provide loans for Nigerian Youths to support their entrepreneurship ideas, creativity, and innovative skills. The NYIF is aiming at funding 500, 000 Youths with loan annually.
Meanwhile, the loanrN250, 000 to N50, 000, 000 for both non-registered business and registered business with Corporate Affairs Commission. The Nigeria Youth Investment Fund Loan will be on 3 years repayment period at a 5 percent interest rate. All Nigerian Youths that have an existing business or a business idea but needs fund to start a business are eligible to apply.
Nigeria Youth Investment Fund Eligibility
To be eligible to apply for the Nigeria Youth Investment Fund, you must meet the following requirements;
- You must be a Nigerian.
- Must have a Bank Verification Number (BVN).
- Must be between 18-35 years old.
- You must have a bank account number.
- A valid means of identification such as a Voters Card, National Identity Card, and Driers License.
Steps To Apply For NYIF
To apply for the load, kindly follow the below steps.
- Visit the official website www.nyif.com.ng and click on Apply here.
- Fill up the personal information required in the NYIF Application Form and click Next
- Complete the form and click Submit.
- A congratulatory message will be displayed on the screen indicating you have successfully registered for the loan.
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