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NYIF Loan: Ministry Calls For Prompt Response From Shortlisted Applicants

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NYIF Loan

NYIF Loan: Ministry Calls For Prompt Response From Shortlisted Applicants

The Federal Ministry of Youths and Sports Development is appealing to Nigerian youths who applied for loans under the Nigeria Youth Investment Fund (NYIF) to come for disbursement.

If you could recall in our previous update on the NYIF loan, we reported that the FMYSD is Set To Disburse New NYIF Loan To  25000 Beneficiaries, well the ministry has given a further update regarding that.

You may also want to read GEEP 2.0 Update: Enumeration Of Beneficiaries For GEEP 2.0 To Begin May 12

The Federal Ministry of Youth and Sports Development is currently delivering a fresh round of disbursements of the Nigeria Youth Investment Fund(NYIF) to youth beneficiaries whose applications have been successful.

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According to the Ministry, less than 14% of the newly shortlisted applicants from the 25,000 successful candidates, who are expected to be part of the loan, have responded to emails confirming their approval to receive the soft loan. Instructions on how to access the funds are contained in the email sent. The rate of response to the emails has been quite low.

However, others who responded have received the funds into their PFl designated bank accounts. Shortlisted candidates must respond to communication in order to conclude the disbursement process. Those who fail to respond risk forfeiting this opportunity.

The Nigerian Youth Investment Fund (NYIF) is being disbursed to the youth who have expressed business needs within a range of N250,000 (Two Hundred and Fifty Thousand Naira) to N3m (Three Million Naira) depending on the scale of the business and its evaluation.

You may also want to read How To Get Loan As A Federal Government Worker in Nigeria

You may want to also read GEEP 2.0 Enumeration Of Beneficiaries To Begin May 12 About 6,000 youth benefitted from the first set of disbursements in 2020 and the names of the beneficiaries have since been made public. While in the second batch 4,375 have so far responded to their loan offer messages and received their funds.

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