JUST IN: FMYSD Releases Status Of NYIF Disbursement

JUST IN: FMYSD Releases Status Of NYIF Disbursement

The Federal Ministry of  Youth and Sports Development has released status of the Nigeria Youth Investment Fund (NYIF) disbursement, breakdown of NYIF disbursement so far.

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These was disclosed on the NYIF official Instagram account today Tuesday 22nd June 2021.

In the post in their Instagram account, they stated reasons why some applicants where not pre-qualified and also some new directive for those pre-qualified.

Below is the full statement:

NOTE: (A) Some applicants were not pre-qualified for loan disbursement for the following reasons:

​ Applicants did not provide valid or correct phone number for communications on further steps in the loan application

Applicant has existing AGSMEIS or COVID-19 Loan

Applicant is older than 35 years old, which puts them beyond the age bracket for youth

Applicant has a poor credit rating or currently has a non-performing loan

Applicant failed to provide a valid BVN

Applicants provided incomplete or incorrect BVN.

(B) Another batch of 5,000 have been pre-qualified for training ahead of final clearance for disbursement.

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(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 loans disbursement platform in order to fast track the youth access to the Fund.

The Ministry for Youth
Help Line: In case you have any complaints / questions please send an email to: [email protected]

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JUST IN: FMYSD Releases Status Of NYIF Disbursement